US Dollar Foreign Exchange vs Other Currencies

The U.S. dollar slipped against major currencies in late New York trading on Monday as Irish bank debt was downgraded and the market still feared Japanese government’s further intervention.

The euro against dollar traded around 1.35 in most trading session on Monday as Anglo Irish Bank’s debt was downgraded by rating firm Moody’s.

It cut the nationalized bank’s senior unsecured debt by three notches to Baa3 — just one notch above junk status — and its subordinated debt by six notches to Caa1 and kept it on review for a downgrade.

Meanwhile, the dollar against yen hit 84.11 in Monday’s trading session, its lowest level since Japanese government stepped in the currency market more than a week ago. In later trading, the dollar rebounded slightly against yen as fear on Japanese government’s further intervention still existed.

Some analysts believed that the Fed’s decision on likely easing monetary policy last week still encouraged the investors to sell the dollar.

In late Monday trading, the dollar bought 84.24 Japanese yen compared with 84.39 yen last Friday, and the euro rose to 1.3475 dollars from 1.3472 dollars.

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