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USD sees forex dip

30th November 2011

US central banks have brought about a fall in the US dollar (USD) after they announced a 50 basis point reduction in temporary bilateral liquidity swap arrangements.

Earlier today (November 30th), USD fell from 1.5605 to 1.5720 against sterling and also showed sharp declines against both the Japanese yen and Swiss franc, FX Street reports.

The currency also showed weakness against the Australian dollar with a 295 pip decline to 1.0327. However, USD has proved stronger against the Canadian dollar, rising to 1.0200.

In addition, the central bank decision has led to an increase in commodities, as the new rate will impact on liquidity in global markets.

The news follows a positive session for US stocks yesterday, when the Nasdaq grew by more than three per cent.

Reuters noted the S&P retail index was up by 3.2 per cent and the Dow Jones Industrial Average gained 2.6 per cent by the close of trading.
 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.