News Journal

Dollar looses as Euro supply rise

Dollar dropped on the weekend against Euro and Yen as the Federal Reserve announced to buy treasuries and ramp currency supply. The U.S. currency is declining since last week and Australian and New Zealand currencies are gaining since the last three weeks.

The government announced that its balance sheet will grow by at least $1.15 trillion when it will buy $300 billion of government debt and will buy mortgage related bonds. Dollar was considered be a safe currency but the recent strict stance by Fed has changed market perception about dollar.