Dollar slips on concerns about further monetary policy

08:45, September 21, 2010      

Email | Print | Subscribe | Comments | Forum 

The U.S. dollar slipped against major currencies in late New York trading on Monday as the market worried about Federal Reserve's further monetary policy.

The National Bureau of Economic Research (NBER) announced in a statement on Monday that the recession was officially over in June 2009. It also means any downturn in the economy after June 2009 will be regarded as a new recession according to the statement.

The market feared further economic stimulus measures that could be taken by the Fed, which would hold a meeting on Tuesday to discuss the economic situation and whether to implement new monetary policies.

A very likely new quantitative easing policy would widen the yield gap between dollar and other currencies and it would lead to depreciation of the dollar.

In late Monday trading, the dollar bought 85.77 Japanese yen compared with 85.79 yen late Friday, and the euro rose to 1.3062 dollars from 1.3043 dollars.

The British pound fell to 1.5545 dollars from 1.5625 dollars. The dollar fell from 1.0102 to 1.0061 against Swiss francs, and also fell to 1.0287 Canadian dollars from 1.0311 Canadian dollars.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion