Dollar was traded higher in Asian session, January 4 2013

U.S. dollar

The American dollar was traded higher against its major counterparts during today’s Asian session as investors were considering the potential for life without quantitative easing following the release of minutes from the latest Federal Open Market Committee meeting, which showed some division about when the Federal Reserve may cease its asset-buying program.

During the Asian trading session today, currency pair EURUSD moved down with 0.1% to the level 1.3037. The pair GBPUSD fell down with 0.16% to the level 1.6083 as the U.S. dollar moved higher against the so-called riskier currencies, probably showing that investors are nervous about the non-farm payroll report from last month due out later today, the end of quantitative easing and the looming debt ceiling debate.

Experts had prognosis that the jobs report due out later today to point additional 150,000 new jobs in the world’s largest economy, but the unemployment rate is also expected to stay at 7.7%.

Market traders have also focus on the impending debt ceiling debate U.S. policymakers have to confront sometime in the next several weeks. The debt ceiling depends on how much debt America can carry at any one time and failure to increase the debt limit risks could stimulate eventual downgrades to an already vulnerable U.S. sovereign credit rating.

Concerning some safer currencies, USDJPY went up with 0.47% to the level 87.65. However, USDCHF was traded at 0.9278.

Among decrease of oil prices, USDCAD hit the level 0.9891. AUDUSD was unstable around the level 1.0451, while NZDUSD was traded at 0.8270. The U.S. Dollar Index went up with 0.2% at 80.72.

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