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On Thursday, the US currency kept close to the peak of three and a half months versus the pack of other leading currencies. It’s because the revenue on 10-year American government bonds stood above 3%.
Showing the purchasing power of the US currency versus the group of six major currencies, the US dollar index accounted for 91.02, which is close to the high of 91.04, the highest outcome since January 12, displayed on Wednesday.
The evergreen buck keeps growing due to the surge in revenue of American government bonds as well as the prospects for accelerating the Fed's interest rate lift in 2018.
A higher interest rate normally acts as support for the US currency, as it makes dollar assets more tempting for profit-seeking traders. This week, the revenue of 10-year American government bonds surpassed 3% for the first time since 2014. That’s an indication of investor confidence in the good future of the American economy.
The evergreen buck dived against the Japanese yen. The currency pair USD/JPY sank 0.11% being worth 109.31 after it managed to renew a maximum of two and a half months of 109.46 during night trades.
The common currency remained stable against the evergreen buck. The currency pair EUR/USD was trading at 1.2167, a bit retreating from a 2-month minimum of 1.2158, recorded on Wednesday.
Market participants are waiting for the verdict of the ECB on monetary policy, which is expected to be adopted at a gathering on Thursday. Investors are eager to know whether the ECB officials became more confident in the estimates on the surge of inflation or not.
According to analysts' forecasts, the ECB is going to keep the interest rate intact and it’s going to keep the plan on continuing the financial incentive program until the end of 2018.
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
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On Friday, the evergreen buck went down versus other currencies after weaker than anticipated inflation data because market participants worried that the key US bank could decelerate rate lifts…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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