Will the Fed step up its devaluation of the dollar?
*Financial Times, by Neil Dennis, April 9, 2012:
''The dollar continued its retreat against the yen yesterday after
last week's US employment data showing a slowdown in the pace of job
creation stoked speculation about further stimulus measures to keep
economic recovery on track.
On Friday, non-farm payrolls data disappointed investors after just
120,000 jobs were created in the US in March, confounding expectations
of a rise of more than 200,000.
'Dollar debate is now where the Federal Reserve's centre of gravity is
with respect to further stimulus and what degree of US economic
weakness it would take to get stimulus back on the agenda,' said Steve
Englander at Citigroup.
The US currency was down 0.1 per cent to Y81.57 against the yen late in
New York having earlier hit a one-month low, as investors favoured the
Japanese currency's haven properties. The dollar was also weaker
on a trade-weighted basis, with the dollar index easing 0.2 per cent to
79.76, with the biggest gains being against many of its riskier rivals,
particularly emerging market currencies.''
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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