Evergreen buck stands tall following short-covering bounce

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.

 

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