The evergreen buck came off Wednesday’s peak in Europe trade, although it’s still firm enough against the backdrop of the news telling that the American economy still demonstrates decent strength…
Greenback leaps ahead of Fed decision
On Wednesday, the evergreen buck soared because market participants waited for the outcome of the Fed’s policy gathering for further clues about future tightening. Meanwhile, the beleaguered New Zealand dollar recovered following upbeat jobs data.
Tracking the greenback’s value against a basket of six main counterparts, the US dollar index gained 0.1% trading at 94.680.
In Asia, the New Zealand dollar rallied 0.9% being worth $0.6906 having hit a one-week maximum of $0.6915, spurred by data disclosing that the country's jobless rate went down more than anticipated to a nine-year minimum of 4.6%.
The New Zealand dollar had been pressured for recent weeks on worries of the new Labour-led coalition government's left-leaning policies, in particular a clamp down on migration and foreign investment.
The Fed is generally believed to leave interest rates on hold on Wednesday. Additionally, market participants will be closely watching any fresh indications that the major US bank will resume lifting rates next month as anticipated. Traders also require the timing of any moves next year.
The United States will publish the level of quarterly advance GDP growth on April 26, at 15:30 MT time.
On Thursday, the common currency nursed losses versus the evergreen buck having slumped to a 22-month minimum on a shocking dive in a leading gauge of economic activity in Germany, boosting fears a deceleration in the EU’s number one economy…
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