Dollar at record lows ahead of Bernanke speech

clock

The dollar has plummeted to a 16-month low against the euro as markets expect the Federal Reserve to signal it will hold interest rates.

The greenback fell for the seventh consecutive day in the longest rout since March 2009 after speculation on tomorrow's briefing by Fed chairman Ben Bernanke. Investors expect the Fed to maintain its ultra-loose policy when its bond-buying program expires in June, Bloomberg reports. While the dollar dropped a further 0.4% in New York's early session, with the euro trading at $1.4714, the S&P 500 was down 0.11% in early trading to 1,346. Elsewhere, the FTSE 100 is bouncing back from morning losses to trade at 6,079 from a day peak at 6,047, amid mixed Q1 results from some of the Lon...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read