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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.
On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week…
American multinational companies get down to reevaluating their currency hedging strategies following a leap in the evergreen buck for recent months because the impact of the stronger US currency starts influencing second-quarter corporate profits…
On Wednesday, the British pound headed south to the lowest value for 10 months versus the broadly stronger greenback because suddenly dismal British inflation data decreased chances for an August rate lift by Britain’s key financial institution…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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