Rebounding from steep losses in the previous session on a more cautious than expected Federal Reserve statement on interest rates, the dollar rose broadly on Thursday as investors remained bullish on the greenback.
It’s been an interesting start to what promises to be a interesting week in the forex market. The biggest story of Monday’s trade thus far has been the continued strength of the dollar despite disappointing data in the world’s largest economy.
Wide triple-digit price gyrations in equities last week left investors "scratching their heads." The back and forth economic and geopolitical data and news prompts almost immediate reaction in the markets.
The Singapore dollar is the latest currency to register a sharp unexpected drop following action from the Monetary Authority of Singapore to ease monetary policy, which is fast leaving the United States and Switzerland as the only two countries not trying to devalue their currencies.