USD hoping for a rise
The world's least well-performing currency is looking out to be the USD, for the past three months. Hitting 3-year lows and struggling against the by the day; rebound seems far from real this year for America. The Euro hit 16-month high thanks to the weak dollar, and JPY has had it's shiny moments.
Ben Bernanke stated that the country should stop printing money if they don't want the economy to slump again. Dollars are being printed to buy $600 billion of Treasuries and it's believed that as soon as printing stops in June the USD will strengthen; but as long as money is being printed, USD will keep getting weaker.
Institute for Supply Management Manufacturing PMI news is waiting to be released shortly, with a forecast of 59.9 from the previous 61.2. If the announcement releases figures higher than the forecasted value, it is good news the the American currency.
This news interests traders as: "It's a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;" as quoted by the forex calendar
EUR/USD is currently trading at 1.4849
USD/JPY is trading at 81.28
