Fri, 25 Mar 2011 17:34:00 +0100

Forex: Dollar rises on hawkish Plosser

FXstreet.com (Buenos Aires) – Dollar accelerated higher across the board, setting fresh daily highs against major rivals except Australian Dollar, following hawkish comments of FED’s Plosser stating the country will have to reverse its economic policy before too long. Market players had seen in this a probable end of the easing strategies with current QE2 and run towards cheap greenback.

EUR/USD quotes at 1.4083 addressing to weekly low posted yesterday at 1.4050, while Pound nears 1.600 price zone. USD/JPY that has traded in a extremely limited range since weekly opening, broke higher quoting now near 81.50 and heading towards 82.00 area, while USD/CHF has reached a fresh 7-day high just below 0.9200.