Jul 04 2014

Rate Range Projection by Bank

Next week 101.50- 102.50

Next 3 months 100.00 - 105.00

The below is a topic from market news

 

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, headed for a 0.2 percent weekly increase after data yesterday showed U.S. nonfarm payrolls rose more than economists estimated and the unemployment rate fell to an almost six-year low.

The dollar posted its first weekly gain in four as signs of an accelerating U.S. recovery spurred speculation the Federal Reserve will bring forward the timing of interest-rate increases. Sweden’s krona weakened a fourth day as industrial production slumped. The ringgit climbed to its highest since November on bets Malaysian interest rates will rise. The moment hasn’t yet arrived where we’ll see a sustained recovery but it’s one step closer.”

“Payrolls is always the figure the market looks to for depth of recovery and that obviously is important to the Fed,” said Neil Mellor, a currency strategist at Bank of New York Mellon in London. “It’s really a question of when the dollar is going to put in a sustained burst higher. Expectations for currency swings reached a record low yesterday.