Oct 31 2014

Rate Range Projection by Bank

 Next week 114.00- 116.50

Next 3 months 110.00 - 120.00

 

The Bloomberg Dollar Spot Index trimmed a third week of gains as Fed Chair Janet Yellen said central banks need to “employ all available tools” to address low growth and below-target inflation. She spoke in Paris a day after European Central Bank President Mario Draghi deepened his commitment to stimulus, helping send the euro to a third weekly drop. Canada’s dollar jumped after an unexpected decrease in the jobless rate. Australia’s dollar rallied.

 

The dollar dropped the most in three weeks after employment rose less than forecast in October amid a Federal Reserve debate on when to increase interest rates from a record low. “It was a miss from expectations,” Lennon Sweeting, a San Francisco-based dealer at the broker and payment provider USForex Inc., said in a telephone interview. “The market was anticipating a higher reading but, from our perspective here, this is just a bump in the road and dollar strength is still intact.”