Greenback gains some ground on American rate lift expectations

Greenback gains some ground on American rate lift expectations

On Wednesday, the evergreen buck soared versus other key currencies, underpinned by rising hopes for a June rate lift in America, and as traders turned their attention to a major American employment report, expected to emerge at the end of the week.

The currency pair EUR/USD went down 0.11%, hitting 1.1174.

On Tuesday, the evergreen buck sagged after Tuesday’s data disclosed that the CB consumer confidence index went down to 117.9 in April, which doesn’t match hopes for a soar to 119.8.

However, the American Commerce Department told that consumer spending inched up 0.4% the previous month, which is in line with economists’ predictions. It turned to be the biggest soar in four months.

The major American currency has also been suppressed amid fears that investigations into Donald Trump's relationships with Russia could block his administration's progress on recently promised stimulus measures.

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