The U.S. dollar set a two-month high versus the euro on Monday, having enjoyed a solid comeback last week after a string of mostly upbeat data convinced markets the Federal Reserve will continue its gradual withdrawal of stimulus.
The beleaguered Australian dollar got a bit of relief after China’s annual economic growth in the October-December quarter of 2013 came in at 7.7 percent, down from 7.8 percent in the previous three months but slightly ahead of market expectations for growth of 7.6 percent.
“It’s not a particularly good number but there wasn’t any drop to levels below the 7.5 percent threshold,” said Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation.
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.