Dollar stuck near lows, Asian stocks slip
HONG KONG, Sept 30 (Reuters) - The dollar was stuck near an eight-month low, ground down by expectations of more Federal Reserve easing, while Asian stocks pulled back slightly from a two-year high as markets took a breather from September's strong rally.
The dollar is down 8.5 percent this quarter against a basket of world currencies, its worst quarter in over eight years, as a sluggish economy and stubbornly high unemployment levels have fueled expectations of another round of asset buying by the Fed.
OIL: Crude steady after 2 pct gain on EIA data
TOKYO, Sept 30 (Reuters) - U.S. crude futures stood little changed on Thursday to hold a gain of more than 2 percent from a day earlier, helped by data showing a drop in U.S. crude and product inventories.
A tightening in product stockpiles -- just as U.S. refiners were stepping up seasonal maintenance and with more than a month to go before the hurricane season winds down -- prompted traders to bid up prices.
GLOBAL MARKETS: Dollar sags as monetary stimulus seen in pipeline
NEW YORK, Sept 29 (Reuters) - Rising expectations that central banks will step up monetary stimulus to support fragile economies drove the dollar to a five-month low against the euro on Wednesday and helped gold extend its record-breaking rally.
"The dollar currently is in a 'lose-lose' situation where if U.S. data is disappointing, it increases the prospects of Fed easing, and that weighs on U.S. rates and the dollar," said Brian Dolan, chief currency strategy at Forex.com in Bedminster, New Jersey.
PRECIOUS-Gold hits record highs in anticipation of more QE
LONDON, Sept 29 (Reuters) - Gold prices rallied to record highs in Europe on Wednesday on fears moves by the Federal Reserve to tackle the sluggish U.S. economy would undermine the dollar, boosting investment in bullion as an alternative asset.
Spot gold hit a record $1,313.20 and was bid at $1,308.60 an ounce at 0953 GMT, against $1,307.40 late in New York on Wednesday. U.S. gold futures for December delivery rose $1.80 an ounce to $1,310.10.
FOREX-Dollar toils on rising expectations of more Fed easing
LONDON, Sept 29 (Reuters) - The ailing dollar fell more on Wednesday as sliding U.S. Treasury yields and below-forecast U.S. data fuelled expectations that U.S. monetary policy would need to be further relaxed.
Mounting speculation that the U.S. Federal Reserve could embark on a second round of quantitative easing (QE) knocked the dollar to a five-month low against the euro and a two-year trough against the Australian dollar.
Dollar hits lowest since Jan, bracing for QE
LONDON, Sept 29 (Reuters) - The U.S. dollar extended its steep decline on Wednesday, clocking losses of more than five percent for the month, as investors prepared for the Federal Reserve to print more money to lift the weakening U.S. economy.
Mounting speculation the Fed will embark on a second round of quantitative easing -- expanding its balance sheet to buy bonds and others assets -- to prevent a double-dip U.S. recession sent the dollar to a five-month low against the euro and a two-year trough against the Australian dollar.
Asian stocks at 2-yr high, dollar on defensive
HONG KONG, Sept 29 (Reuters) - Asian stocks hit a two-year high and the dollar was stuck near a seven-month low after poor U.S. data reinforced expectations the U.S. Federal Reserve will take more action to help the struggling economy.
"The Nikkei's rising on the slightly weaker yen, and there's also probably some window-dressing ahead of the end of the first half of the business year," said Norihiro Fujito, general manager at Mitsubishi UFJ Morgan Stanley Securities.
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