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The Dollar Hits a Seven Month Low Before the Fed Announcement


“The dollar weakened to a seven- month low against the yen and Treasuries rose amid speculation the Federal Reserve will unveil more stimulus today. European stocks dropped from a 14-month high as European Aeronautic, Defence & Space Co. and BAE Systems Plc fell on plans to merge.

The dollar depreciated 0.2 percent to 77.71 yen at 7:50 a.m. in New York. The yield on 10-year Treasuries fell two basis points. The yield spread between Dutch and German 10-year debt narrowed to the least since January after an election in the Netherlands. The Stoxx Europe 600 Index lost 0.3 percent as BAE dropped 6.8 percent and EADS sank 8.7 percent. Futures on the Standard & Poor’s 500 Index slipped 0.2 percent. Oil increased 0.2 percent to $97.24 a barrel.”

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