Forex Blog - Forex News & Currency Analysis

Poor earnings reports from major banking firms such as UBS and Royal Bank of Scotland prompted Forex investors to return the Dollar to safe-haven status on Tuesday, helping the USD rise to a 1 month high against a basket of currencies.

The rally in the USD is the second in three sessions, and with disappointing banking reports, analysts are beginning to think there can be more up days for the Dollar in the near future.

Trading was still quite light though, as traders await the outcome of today’s Federal Reserve policy meeting – the Fed is widely expected to keep interest rates where they are, near a record low zero percent.

At 10:00PM GMT, the US Dollar was trading up .30% against the Euro to 1.4722, up .11% to the Japanese Yen to 90.31, up .25% versus the Australian Dollar to .9014, down .04% to the British Pound to 1.6411, down .83% to the Canadian Dollar to 1.0677 and up .4% against the Swiss Franc to 1.0257.