Dollar mostly lower ahead of big day for central banks

The U.S. dollar is trading mostly lower against its major rivals during Thursday’s Asian session ahead of what promises to be an important day on the global central bank front.

In Asian trading Thursday, EUR/USD climbed 0.18% to 1.2992 after the euro slid to near its lowest levels in nearly three months against the greenback. Traders appear to be speculating the European Central, which is scheduled to make monetary policy comments later today, will revise its already lower economic growth outlook for the region downward.

That could open the door to additional easing, which would in turn pressure the common currency. It is widely expected the ECB will keep its benchmark interest rate at 0.75%.

GBP/USD fell 0.14% to 1.4998. Sterling fell to 1.4967 yesterday against the dollar, the lowest level in nearly three years. The Bank of England is also scheduled to make a monetary policy announcement later today and speculation has increased that BoE could restart quantitative easing after halting its bond-buying activities in November. Continue Reading....