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On Wednesday, the US currency rallied and reached a maximum of seven weeks versus the group of other leading rivals due to the growth of yield of American government bonds. The yield of 10-year US bonds tacked on to a maximum since early 2014.
The US dollar index, appreciating the purchasing power of the US currency versus the trade-weighted basket of six key currencies, soared 0.31% ending up with 90.84. That’s the highest result since March 1.
The dollar's exchange rate has tacked on due to the surge in yields in American government bonds as well as the prospect of accelerating the Fed's interest rate increase in 2018.
A higher interest rate, as a rule, appears to be a support for the evergreen buck, as it makes dollar assets more attractive for profit-seeking investors. On Tuesday, the revenue of 10-year US government bonds managed to surpass 3% for the first time since 2014, which is a indication of investor confidence in the bright future of the American economy.
Published on Tuesday, data showed that the volume of construction of new homes and consumer confidence in the USA appeared to be better than analysts' estimates, which strengthened the forecasts of the stable surge of the American economy in the nearer future.
The Japanese yen headed south to a minimum against the evergreen buck for 2.5 months. The currency pair USD/JPY managed to tack on 0.38% coming up with 109.23.
On Tuesday, the evergreen buck headed south against the yen after a decline in quotations on US exchanges provoked a jump in demand for the Japanese currency. Yesterday's trading on Wall Street concluded with an abrupt dive in indices amid concerns of companies as for raising the cost of borrowed funds as a result of growing revenues of American bonds.
Today, the election in Canada will determine whether the Liberal Party Prime Minister Justin Trudeau or the Conservative Party leader Andrew Scheer will lead the government…
The reports that the UK and the EU reached a deal pushed the GBP up immediately.
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
Today, the election in Canada will determine whether the Liberal Party Prime Minister Justin Trudeau or the Conservative Party leader Andrew Scheer will lead the government…
The week will bring us fresh updates on Brexit and the last ECB meeting with outgoing president Mario Draghi.
De-escalation between the US and Turkey and News for the GBP are on the agenda
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