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US Dollar Plummets To Fresh Record Low Against Swiss Franc
3 minutes ago

(RTTNews) - The US dollar extended its previous sessions' downtrend against major currencies in early Asian trading on Thursday on speculation that the Federal Reserve will further loosen its monetary policy.

A rally in most Asian stocks, braced by robust US earnings results and higher commodities also boosted investors' risk sentiments.

Japan's Nikkei Stock Average was up 1.95%, South Korea's Kospi Composite rose 0.93%, Australia's All ordinaries index jumped 1.47% and New Zealand's NZX-50 climbed 0.73%.

The Greenback plummets to a new record low of 0.9539 against the Swiss franc by 8:15 pm ET and the pair moved sideways thereafter. The dollar-franc pair that was worth 0.9587 at Wednesday's North American close is currently quoted at 0.9567.

Against the euro, the dollar slumped to 1.4058 at this time and this set the lowest level for the buck since January 27. On the downside, the greenback may find target around the 1.4340 level. The euro-greenback pair that closed yesterday's deals at 1.3962 is presently quoted at 1.4038.

The US dollar plunged to a 1-week low of 1.5996 against the pound around 8:10 pm ET and a move below the 1.6020 support could set its weakest level in more than eight months. The cable that closed Wednesday's North American trading at 1.5899 is presently quoted at 1.5953.

The greenback slipped to a 3-day low of 81.47 against the Japanese yen by 8:10 pm ET and the pair is approaching Monday's fresh 15-year low of 81.40. The dollar-yen pair that finished Wednesday's New York trading at 81.81 is presently quoted at 81.56.

An index measuring the prices for domestic corporate goods declined 0.1 percent to 102.8 on year in September, the Bank of Japan said today. That was slightly below analyst expectations.

Export prices were down 0.5 percent on month and 5.0 percent on year, while import prices eased 0.1 percent on month but added 2.8 percent on year.

On month, the CGPI was unchanged, matching both expectations and the previous month's reading.

Looking ahead, Japan is set to release Tokyo condominium sales for September at 12:00 am ET.

The European Central Bank will release its monthly report for October at 4:00 am ET.

The US weekly jobless claims, PPI and trade balance data will garner market attentions in the North American session.

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