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The dollar’s on a winning streak

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The dollar’s on a winning streak

Thanks to increased optimism that the US recovery is finally gathering pace and making significant advancements, the US dollar is continuing on its much-welcomed upwards trajectory, rising to its highest level against major peers. The Federal Reserve played a role in the goodwill as well as it closed the debate on the pace of raising interest rates and trimming stimulus. When it comes to the yen, the currency rose by as much as 0.2% to 102.06. The US dollar also advanced versus the shared currency by 0.1% to $1.3423.

Speaking to Bloomberg, foreign-exchange strategist at Credit Agricole’s corporate and investment banking unit, Manuel Oliveri, said there are some rumours that the Federal Reserve may surprise on the hawkish side. This is seeing an element of positioning in the dollar. However, while US data need to stay constructive, Oliveri said, it “should not make a case for rate expectations to become more supported.”

The Bloomberg Dollar Spot Index rose by 0.1% to 1,015.63 earlier today, while the Bloomberg Dollar Spot Index climbed past the 38.2% Fibonacci retracement of its drop between January and May.

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Euro’s slide slows as French bond markets stabilise

The Euro was on track for a fifth consecutive weekly decline on Friday, although signs emerged that selling pressure was easing as France’s bond market stabilised and falling US Treasury yields tempered the Dollar’s rally.
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Pound dips as markets await Bailey’s rate clues

The British Pound edged lower against both the US Dollar and Euro on Thursday, as investors awaited a speech by Bank of England Governor Andrew Bailey that could provide clues about the central bank’s next interest rate decision.
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Dollar advances as oil tops $100 and Fed takes centre stage 

The US Dollar edged higher on Wednesday, supported by rising oil prices, as investors awaited the Federal Reserve’s meeting minutes and comments from policymakers for clues about the outlook for interest rates.
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Euro rout deepens as France’s fiscal risks intensify

The Euro fell sharply on Monday to a 17-month low as mounting fiscal concerns in France, coupled with a severe sell-off in the bond market, raised fears of contagion across the region.
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Greenback surges to 17-month high as bond selloff rattles Euro

The US Dollar was on track for a third consecutive weekly gain on Friday, supported by a global bond selloff fuelled by inflation concerns over higher oil prices and mounting worries about France’s fiscal position. Meanwhile, the Euro remained near a 17-month low.
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Dollar hits fresh three-month high as yields support greenback

The US Dollar climbed to a more than three-month high on Thursday, underpinned by a sustained rise in US Treasury yields. The increase in yields has been partly fuelled by concerns that the US-Israeli conflict with Iran could keep global price pressures elevated.
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6th Floor, ABSA house,
Ebene Cybercity,
Mauritius,
J. Balcikonio str. 9,
LT- 08314, Vilnius,
Lithuania,

media contact

About

deVere Group – Foreign Exchange’s Public Relations Department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The Department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines.

Contact

Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact deVere Group – Foreign Exchange’s Head of Public Relations on [email protected] or call +44 2071220925.