The euro/dollar fell back slightly, paying attention to the progress of the European debt crisis

On Monday (August 29), at the beginning of the European market, the euro/dollar fell slightly and the current exchange rate fluctuates around 1.4523.

Bernanke said on Friday that the Fed is ready to provide further support to the weak US economy at any time, but does not specify any possible actions. He said that the Fed has a series of tools that can provide additional monetary stimulus and discussed the pros and cons and costs associated with these tools in the August meeting. These tools and other topics will continue to be measured during the September meeting. He also stressed that the September decision meeting will be extended from the original 1 day to 2 days (Sept. 20 and 21).

Khoon Goh, head of market economics and strategy at ANZ Bank, said that although Bernanke did not provide more details on economic rejuvenation in his speech, the extension of meeting time of the US Federal Open Market Committee (FOMC) was sufficient to enhance the market's support to the Fed. Suspicion and uncertainty. In particular, the market speculated that the outcome of the Federal Reserve meeting would cause the dollar to fall and the stock market to rise.

Forex analysts said that on the market outlook, investors are expected to focus back on the euro zone debt crisis, the euro may repeat, will fluctuate between 1.4250-1.4550. Resistance is at 1.4530 and 1.4580 with support at 1.4430 and 1.4380.

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