FOMC Decision Hurting Greenback

Learn Forex News : The greenback traded lower against the euro remained after the Federal Open Market Committee (FOMC) signaled if job growth has not been strong enough to encourage the cessation of stimulus measures. Fed Governor Ben S. under Bernanke will continue to purchase $ 85 billion in bonds per month (QE) in a bid to reduce the unemployment rate to below 7%, a level not seen since November 2008. However, the euro still remains vulnerable to uncertainty about the bailout Cyprus.

"Investors are still questions about how to reap the Cyprus government's € 5.8 billion without tax deposits," said Brian Dangerfield, currency strategist at RBS Securities in Stamford, Connecticut. "And investors want to see whether Cyprus will manage to make some bilateral agreements with Russia, or anything related to additional financing, or the sale of assets."