Currencies Round up (Thuesday,November 24,2009)

FX round-up: Fed official sparks dollar sell-off The dollar suffered its biggest fall in a fortnight on Monday after president of the Federal Reserve Bank of St. Louis, James Bullard, hinted that interest rates could stay low indefinitely. Bullard, who’ll have a vote on the Fed’s panel of rate setters next year, asked that some of the stimulus measures put in place by the central bank be extended. He doesn’t think interest rates will start to increase until 2012. Other Fed members share similar views, especially with US unemplyment above 10%. Traders fear the Fed’s cautious stance makes it less willing to put an exit stragey in place - to withdraw fiscal stimulus and raises rates – which increases selling pressure on the greenback. The euro was especially strong in a week that will end on Thursday for most Americans, with few expected to return to their desks on Friday after the Thanksgiving holiday. GBP AUD CAD JPY EUR CHF USD GBP 1.0000 1.8036 1.7595 147.0142 1.1095 1.6772 1.6566 AUD 0.5544 1.0000 0.9755 81.5109 0.6152 0.9299 0.9185 CAD 0.5684 1.0251 1.0000 83.5562 0.6306 0.9533 0.9415 JPY 0.0068 0.0123 0.0120 1.0000 0.0075 0.0114 0.0113 EUR 0.9013 1.6256 1.5858 132.5049 1.0000 1.5117 1.4931 CHF 0.5962 1.0754 1.0490 87.6538 0.6615 1.0000 0.9877 USD 0.6036 1.0888 1.0621 88.7450 0.6697 1.0124 1.0000