Commando US dollar calling the shots

Discussion in 'Currency Pairs' started by Profiforex_Victory, Jul 20, 2016.

  1. Profiforex_Victory

    Profiforex_Victory Новичок

    The dollar had sprang up to a high of four months against major rival currencies. This was as data revealed very impressive US housing starts. Commerce Department data had showed that U.S. housing starts had leapt up by 4.8% thus showing the yet remarkable strength of the US economy.

    Earlier on, US job report for the month of June had revealed that U.S. employers had created an additional 287,000 jobs for the US economy ( when a lot of analysts were expecting barely 150,000 job addition). This coupled with the positive data from US housing once again raised expectations that the Federal Reserve will consider increasing U.S. overnight interest rates. Surely increased interest rates would equally raise the return on the dollar making it much more attractive to investors.

    The dollar went up by 0.5% against the yen; jumping up to 106.715 yen today. This is actually the best the dollar has gotten against the yen since June 24 when global markets were shocked with Britain's unexpected vote to leave the European Union.

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