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Dollar Advances on Fed Hawkish Tone

Written By Trading Forex News on Thursday, January 28, 2010 | 9:51 AM

Dollar Advances on Fed Hawkish Tone

The U.S. dollar advanced versus several key currencies after a Federal Reserve statement announcing that a number of stimulus to help the economic recovery will be lifted, as according to central bankers, the economy is already showing enough evidences of improvements to allow these measures.

The greenback gained after a Federal Reserve monetary policy statement published today showed optimism with hawkish attitudes from central bank officials, since several measures used to revive the U.S. economy from the worst recession in decades will expire and not be extended, allowing the dollar to touch the highest level in 6 months versus the euro.

EUR/USD traded at 1.4021 from a previous intraday rate of 1.4077.

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