The U.S. dollar maintained a bid tone early in Asia on Wednesday after an upbeat U.S. report kept alive some expectations the Federal Reserve might scale back stimulus as soon as next month, while strong domestic jobs data lifted the New Zealand dollar.
In contrast, ongoing speculation the European Central Bank (ECB) could cut interest rates at Thursday’s policy meeting, or at least sound dovish, kept the common currency under pressure.
The dollar index last traded at 80.709, having climbed 0.2 percent on Tuesday to be back within striking distance of a near two-month peak of 80.930 set on Monday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.