Trade Resources Economy Dollar Followed Stronger Gold Price Higher in Asia

Dollar Followed Stronger Gold Price Higher in Asia

THE dollar followed a stronger gold price higher in Asia yesterday in a jittery session, with traders awaiting comments by the US central bank on the outlook for the economy.

Late yesterday, the dollar was at US91.83c, up US1.25c from Monday.

The US Federal Reserve will release minutes of its June 18-19 policy meeting overnight on Wednesday, with investors awaiting information on whether policymakers intend to reduce economic stimulus before the end of the week.

Fed chairman Ben Bernanke is also scheduled to give a speech on economic policy.

He has already indicated the Fed may start to wind back its economic stimulus program before the end of the year.

Tim Waterer, currency strategist at CMC Markets, said Mr Bernanke could raise expectations that the Fed's bond-buying program, which aims to lower US interest rates, might soon be reduced after strong US employment numbers on Friday.

Source: http://www.theaustralian.com.au/business/markets/aussie-up-as-investors-await-feds-minutes/story-e6frg916-1226676734119
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Aussie up as Investors Await Fed's Minutes
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