Forex News

The dollar keeps ticking lower, with EUR/USD rising to an intra-day high of 1.5600 recently as markets continue selling the buck on news Thu morning that the ECB may hike rates next month.
At that mark, strategists had said Tue that considering Bernanke's harsh words on the dollar's weakness, intervention becomes a more serious topic of debate.

The euro rebounded after ECB President Jean-Claude Trichet said the bank may raise rates next month. Investors looking to hedge against the dollar's falling value have helped lead oil, gold and corn to records this year. The dollar and oil fell earlier this week on signs U.S. interest rates may rise.

ECB policy makers have not followed the Federal Reserve and the Bank of England in cutting interest rates. Oil rose 52 percent since Sept. 18 when the Fed began curbing rates to bolster an economy already reeling from a credit crisis. The Euro advanced 11 percent against the dollar in the period.

Oil also has rose more than $6 from $121.600 low to $128.250 as the dollar dropped against the euro on statements that the European Central Bank may boost interest rates to cut inflation.


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