Saturday 18 February 2017

The dollar rose to a new wave of optimism

The dollar rose against other major currencies on Friday, recovering from the fall of the previous session to a minimum for the week. Strengthening of course is due to the wave of optimism about the economic situation in the US and more likely interest rate increase in March.
The dollar retains support after a report on Tuesday of Janet Yellen before the US Senate Banking Committee, in which she pointed out that the US central bank will raise the interest rate on one of the following of its meetings.
Yellen said that waiting too long before raising interest rates would be unreasonable under the condition of economic growth and increasing inflation.
In addition, the strengthening of the dollar was due to the positive US statistics on the number of initial applications for unemployment benefits and the number of construction permits.
EUR/USD slipped by 0.22% to 1.0650, down from 1.0682 week high.
The pair GBP/USD fell by 0.52% to 1.2425 after a report in the National Statistical Service of the UK (ONS) said that in January, the volume of retail sales decreased by 0.3% compared with growth forecast for 0,9%.
USD/JPY dipped by 0.43% to 112.75, and USD/CHF rate rose by 0.13% to 0.9984.


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