The dollar lost ground for the second consecutive day against the Japanese yen trading at 98,313. The Green back also fell against the Euro. Euro/USD stood at 1.3258 at the end of a turbulent New York stock session which saw major indices falling from record highs into negative territory. Dow Jones ended at 15 615 . Stock exchanges in Europe traded flat.
Statements from the head of US Federal Reserve (FED) in Dallas, gave rise to a new guessing game as to when FED would start tapering its monetary easing. FED is at present by buying USD 85 billion in bonds monthly. Dallas Head Fischer claimed that tapering might start already next month based on unemployment figures. Better services number presented yesterday, pushed bond prices to its highest in 2 years.
The DXY index, a basket of six major currencies against the dollar, stood steady. The dollar has lost 3 %% against major currencies after reaching a peak on July 7th. The British pound, GBP, jumped 0,4 %% against the dollar yesterday and ended 0,4 %% up. The New Zealand, KIWI, lost substantial ground after a bacteria was discovered in products from its leading dairy industry. China immediately stopped import of dairy products from New Zealand.
Oil prices exemplified by Brent crude stay at steady high levels trading close to USD 109 a barrel. Gold prices took a new dip at USD 1301 an ounce. Silver tipped down to USD 19,80 after climbing as high as USD 20,40 yesterday.
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