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The data, however, did not reflect the true picture because California continued to process a backlog of applications caused by computer problems. The dollar fell broadly, hitting a near nine-month low against a basket of currencies of 79.081. It was last down 0.1 percent on the day at 79.149. Weak U.S. jobs data on Tuesday suggested the U.S. recovery was not yet on a firm footing, while a drop in the 10-year U.S.
“The disappointing tone of the euro zone data will suggest that the euro is looking toppy up here, and this should keep euro/dollar in check,” said Foley. In the United States, jobless claims fell less than expected in the latest week to a seasonally adjusted 350,000. The data, however, did not reflect the true picture because California continued to process a backlog of applications caused by computer problems. The dollar fell broadly, hitting a near nine-month low against a basket of currencies of 79.081. It was last flat on the day at 79.233. Weak U.S.
Nevertheless the Fed noted that economic activity has been expanding at a moderate pace.. No change is expected now, especially as there is no accompanying press conference. Tapering could be pushed back as far as April. NZ rate decision: Wednesday, 20:00.