Greenback inches up on positive US data

Greenback inches up on positive US data

On Thursday, the evergreen buck rallied after positive American data as well as supportive minutes from the Fed’s policy gathering helped it to shrug off recent weakness.

Tracking the US dollar’s value versus a basket of six key currencies, the US dollar index managed to extend the previous day's bounce to trade 0.02% higher hitting 92.183. On Tuesday, it had dived to 91.751, which is its lowest value since September 20.

The greenback rebounded after Wednesday's firm American manufacturing as well as construction data.

It obtained further support because the minutes from the Fed's December 12-13 gathering turned to be more hawkish than expected, showing the key US financial institution is still poised to lift interest rates several times in 2018.

Fed policymakers actually acknowledged the American labor market's firm revenues and the expansion in economic activity.

The common currency was nearly intact at $1.2016 having lost 0.4% overnight.

 

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