14, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar left won earlier position against the euro and the Japanese yen, as the uncertainty about the Federal Reserve policies worried the markets.

USD/JPY was trading at 95.82, after rising above 97 earlier in the European session. The euro/dollar also grew to 1.3327 from a low level 1.3266. Investors are trying to rethink their strategies in order to conform to these conditions, when the central bank's program to stimulate the economy - which is caused asset prices and supported the growth of GDP in the last few years - is no longer a kind of a given.

The Bank of Japan and the European Central Bank signaled that they do not intend to take further measures to stimulate the economy. Meanwhile, the Fed is expected to start phase out its bond-buying program this year, as the U.S. GDP growth continues to gain strenght.

Some market analysts have accused the Fed is that it is not clearly articulates its statements concerning plans to curtail the program, under which monthly acquired assets worth 85 billion dollars.