Thursday, 14 Oct 2010

Dollar Drops to 2010 Low vs. Majors ‎

The U.S. dollar slide to a 2010 low against a basket of currencies on Thursday after Singapore ‎let its currency rise but analysts saw increasing chances of a dollar rebound with negative ‎sentiment so high.‎ Dollar selling accelerated after the release of Federal Reserve meeting minutes this week ‎showed policy makers were considering more measures to stimulate the economy, including ‎adopting a price-level target or buying more bonds.‎ Investors will closely watch a speech by Fed Chairman Ben Bernanke on Friday at 12:15 GMT ‎which could provide hints on what the U.S. central bank might do at its next policy meeting on ‎Nov. 2-3. The dollar could see a rebound if the Fed announces asset purchases of less than $1 ‎trillion after its meeting in November, which would disappoint some market participants ‎hoping for a bigger move and ease concerns about a debasement of the U.S. currency.‎