Markets

Fed comments push dollar higher

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"St. Louis Fed President James Bullard set off a flurry of USD/JPY buying in early North American trade when he suggested that the Fed may curtail its QE program early," said Boris Schlossberg fo GFT. The dollar stood at 0.9201 Swiss francs (0.9161). Expectations that the European Central Bank will next week raise its benchmark interest rate propped up the single European currency, despite concerns about debt problems in several eurozone countries. The European single currency rose to $1.4110 from $1.4092 late on Monday. The pound rose to $1.6007 from $1.5996 the day before.

Copyright AFP (Agence France-Presse), 2011