Dollar Falls on Fed Speculation

The dollar came under pressure again Wednesday amid expectations that the Federal Reserve will expand its quantitative-easing policy.

The euro rose to $1.3858 from $1.3836 late Tuesday in New York. The single currency also managed to rise to 115.13 yen from 115.11 yen.

Still, investors were reluctant to push the euro too much closer to $1.40 ahead of the European Central Bank meeting Thursday and the meeting of finance ministers from the Group of Seven leading industrial nations in Washington this weekend.

Although the ECB is expected to remain hawkish, as members of its governing council debate exit strategies from the unconventional monetary easing introduced the year before last, some at the central bank may express concern about the risk that euro strength could pose to the currency bloc's recovery.

Read Full Article from Wall Street Journal

- Posted: 2010-10-06 04:46:42

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