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[QUOTE="everestmarkets, post: 48848, member: 19237"] The dollar fell against other major currencies in Asia Monday, hitting a fresh one-month low against the yen, amid expectations that the Federal Reserve will stick to ultra-low interest rates for a considerable length of time and caution over the pace of a U.S. economic recovery ahead of key economic indicators. The Fed has said that it intends to keep short-term interest rates near zero at least until the jobless rate drops to 6.5% or unless inflation rises to annualized rate of 2.5%. Chairman Ben Bernanke suggested at his June press conference that the Fed might lower that 6.5% threshold for unemployment, which was set in September. Such a move would drive home to markets that short-term interest rates will stay low for a long time. "Expectations for a forward guidance change are behind the dollar's falls," said Tsunemasa Tsukada, chief manager of forex and financial products trading at Mitsubishi UFJ Trust and Banking. Among key data to be released this week are U.S. gross domestic product figures for the second quarter Wednesday, the Fed monetary policy outcome Wednesday and U.S. jobs data Friday. "The U.S. jobs data is the most important," said Akira Moroga, manager of forex products group at Aozora Bank. "While Fed officials may discuss potential changes in forward guidance, market participants aren't expecting a changed to be announced at this time." The dollar was at Y97.86 as of 0450 GMT after falling to a fresh one-month low of Y97.63. The U.S. unit was at Y98.20 late Friday in New York, according to EBS. The dollar was at CHF0.9282 from CHF0.9289 late Friday. The Wall Street Journal Dollar Index, which tracks the U.S. dollar against a basket of currencies, was at 73.765 from 73.840. Interbank Foreign Exchange Rates At 00:50 ET / 0450 GMT Latest Previous %Chg Daily Daily %Chg Dollar Rates Close High Low 12/31 USD/JPY Japan 97.85-88 98.05-12 -0.22 98.34 97.64 +12.82 EUR/USD Euro 1.3276-80 1.3283-88 -0.06 1.3293 1.3276 +0.63 GBP/USD U.K. 1.5378-82 1.5379-86 -0.02 1.5403 1.5378 -5.33 USD/CHF Switzerland 0.9283-88 0.9278-86 +0.04 0.9289 0.9272 +1.46 USD/CAD Canada 1.0272-76 1.0278-91 -0.10 1.0285 1.0264 +3.49 AUD/USD Australia 0.9258-62 0.9249-57 +0.08 0.9286 0.9248 -10.90 NZD/USD New Zealand 0.8081-84 0.8071-81 +0.08 0.8098 0.8074 -2.36 Euro Rate EUR/JPY Japan 129.94-96 130.25-42 -0.29 130.60 129.78 +13.54 [/QUOTE]
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