Latest Update on Forex Trading in New York

The U.S. dollar tumbled against major currencies in late New York trading on Thursday after the Fed announced a new round of quantitative easing policy on Wednesday.

The euro rose to above 1.42 against the dollar in late trading session, while the Australian dollar rose dramatically to near 1. 015 against the dollar, its 28-year high, after the Australian central bank announced that it will raise its benchmark rate this week.

The stock market surged as investors anticipated large amount of money would flow into real economy by the Fed’s move. The reviving optimistic mood in equity market also pressured on the dollar as high-yield investment appeared to be more attractive to investors.

However, the U.S. employment status still showed weakness. A report released by the Labor Department on Thursday showed initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 457,000 last week, which was much more than previous estimate of increasing by 9,000. In late Thursday trading, the dollar bought 80.66 Japanese yen, compared with 81.29 late Wednesday, and the euro rose to 1.4209 dollars from 1.4103.

The British pound rose to 1.6284 dollars from 1.6107. The dollar fell from 0.9730 to 0.9583 against Swiss francs, and also fell to 1.0034 Canadian dollars from 1.0059. (PNA/Xinhua)

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