Dollar weakens to 2-year low before jobless data

Currencies , Euro , US Dollar , Yen Oct 24, 2013 No Comments

DollarThe dollar slid to a two-year low against the euro as concern that U.S. growth was hampered by a government shutdown earlier this month fueled bets the Federal Reserve will delay reducing stimulus.

The dollar slid 0.2 percent to $1.3803 per euro at 6:57 a.m. New York time after reaching $1.3822, the weakest since November 2011. It declined 0.1 percent to ¥97.33 after touching ¥97.16 yesterday, the lowest level since Oct. 9. Europe’s shared currency rose 0.2 percent to ¥134.37.

The greenback fell for a third day versus the yen before a report today that analysts said will show continuing jobless claims in the U.S. rose. The euro pared an advance versus Japan’s currency after an industry report showed manufacturing and services output in the currency bloc expanded less this month than economists forecast. Norway’s krone advanced after the central bank said the currency  has weakened since its last policy decision as it left its key interest rate unchanged

via Dollar Slides to Two-Year Low Before Jobless Data; Krone Climbs – Bloomberg

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website

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