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On Monday, the evergreen buck fluctuated below the maximum for three and a half months versus the basket of other key currencies. The revenue of American government bonds headed south after the previous week it had surpassed 3% for the first time for four years.
The US dollar index, used to estimate the purchasing power of the US currency versus six major currencies, jumped by 0.16% ending up with 91.73. That’s the highest reading since January 11.
The previous week, the US dollar index managed to ascend 1.37% due to the surge in revenues of American government bonds as well as the prospects for accelerating the Fed's interest rate lift this year.
A higher interest rate normally appears to be a support for the evergreen buck, as it makes dollar assets more attractive for profit-seeking traders. The greenback soared after the previous week's yield of ten-year US government bonds managed to exceed the psychologically important level of 3% for the first time since 2014 – it strengthened forecasts of inflation surge.
At the time of writing, the revenue of US ten-year bonds inched down and accounted for 2.961%.
The US dollar tacked on versus the Japanese yen. The currency pair USD/JPY rallied by 0.18% hitting 109.25 after on Friday it had ascended to a maximum of two and a half months 109.52.
The volume of trading remains small because the Japanese markets are unavailable for the holiday, while most Asian exchanges are going to be closed on Tuesday.
The common currency went down. The currency pair EUR/USD edged down 0.14% trading at 1.2113, after Friday’s low for three and a half months - 1.2054.
The UK pound kept to a two-month minimum. The currency pair GBP/USD dived 0.18% being worth 109.24 after the resignation of the Home Secretary on Sunday. It heavily undermined the position of Prime Minister Theresa May in the final year of talks on Brexit terms.
On Wednesday, the evergreen buck stood still due to the fact financial markets waited for the conclusion of the Fed’s latest gathering, while the New Zealand dollar rallied versus the evergreen buck on a better-than-anticipated business confidence report…
On Tuesday, the evergreen buck went down to the lowest value of the day versus its key rivals ahead of a highly-anticipated two-day Fed gathering starting later on Tuesday…
The Federal Reserve is anticipated to be one of the most aggressive major central banks when it gets to the monetary policy…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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