Welcome to Tuesday!
Evergreen buck stands tall following short-covering bounce
On Wednesday, the major US currency edged up versus a basket of crucial currencies, having obtained a boost yesterday because market participants adjusted their trading positions ahead of a global key bankers' conference.
The US dollar index, assessing the greenback versus a basket of six currencies, grew 0.1% hitting 93.605, contributing to its 0.5% revenue from yesterday.
On Tuesday, the greenback had ascended because the common currency was suppressed by a weaker-than-expected outcome on German investor confidence.
Ahead of Jackson Hole market participants have started reducing their short dollar trading positions.
The financial market will probably head for a holding pattern before the Jackson Hole symposium, as some financial experts state.
The greenback grew 0.1% hitting 109.71 yen, drifting away from a four-month minimum of 108.60 yen reached the previous week.
The common currency dropped 0.1% hitting $1.1748.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…