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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Bernanke signals intention to continue easing programs

Jan 31, 2013 02:35 AM

The U.S. dollar is heading toward a rough road ahead due to the continuation of quantitative easing programs implemented by the central bank of the globe's largest economy, according to a senior broker with Daniel's Trading.

Bloomberg reports U.S. Federal Reserve chairman Ben Bernanke indicated on Wednesday, as policy makers with the body he leads adjourned two days of meetings, that the economy-spurring measures are likely to continue this year. The $85 billion in monthly acquisitions of bonds aims to reduce the U.S.' 7.8 percent jobless rate.

"Avoid the US Dollar - or short it - as it is not a safe haven asset despite many market observers' protestations," senior broker Kurt Pfafflin with Daniels Trading said. "The continued injections of quantitative easing should ultimately prove destructive to the Yankee greenback."

Development and growth in the U.S. is set to run into "downside risks" that will persist even in the aftermath of relaxing worldwide financial market tumult, the policy makers noted in a statement.

MarketWatch reports the shared currency of the European Union lost value on Thursday against the U.S. dollar, which fell against other rival monetary units.

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