In early Asian deals on Thursday, the U.S. dollar has been extending its Wednesday’s decline and hit a fresh record low against the Aussie and fresh multi-month lows against the euro and the pound as the Federal Reserve left its interest rates unchanged at near-zero levels.
The Fed also indicated that it will continue its asset purchase program through the end of June. In the statement released Wednesday, the Fed noted that the economic recovery is proceeding at a moderate pace and said overall conditions in the labor market are improving gradually.
Speaking at the first press conference in the history of the Fed, the Chairman Ben Bernanke said that the Federal Open Market Committee is still projecting a “moderate” pace of economic recovery.
Bernanke also noted that monetary policy actions must be taken with an eye toward future due to the delayed impact of policy changes.
The U.S. dollar is currently trading at fresh multi-month lows of 1.4838 against the euro and 1.6672 against the pound, compared to Wednesday’s close of 1.4783 and 1.6627, respectively. The next downside target level for the dollar is seen at 1.70 against the pound and 1.50 against the euro.
Against the Australian dollar, the U.S. dollar is now trading at a fresh record low of 1.0906, compared to Wednesday’s close of 1.0877.
The dollar fell slightly against the currencies of Japan, Switzerland and Canada. The dollar is now worth 0.9495 against the loonie, 81.95 against the yen and 0.8730 against the franc, compared to yesterday’s close of 0.9500, 82.19 and 0.8750, respectively.
Japan’s CPI, household spending, unemployment rate and the industrial production reports – all for the month of March, which were released early in the Asian session failed to influence the yen.
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I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)
Zune and iPod: Most people compare the Zune to the Touch, but after seeing how slim and surprisingly small and light it is, I consider it to be a rather unique hybrid that combines qualities of both the Touch and the Nano. It’s very colorful and lovely OLED screen is slightly smaller than the touch screen, but the player itself feels quite a bit smaller and lighter. It weighs about 2/3 as much, and is noticeably smaller in width and height, while being just a hair thicker.
Sorry for the huge review, but I’m really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it’s the right choice for you.
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Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
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