- MarketPulse - https://www.marketpulse.com -

U.S. Dollar Continues to Roll

The U.S. dollar rose for an eighth day, the longest winning streak since 2012, amid bets an improving U.S. economy will encourage Federal Reserve policy makers to dial back stimulus when they meet next week.

The dollar gained against most major peers before data forecast to show the number of Americans continuing to apply for jobless benefits fell and existing home sales increased. The 18-nation euro held a two-day advance against the yen before a report that may show Germany’s manufacturing industry expanded. Australia’s dollar fell against its peers after a report showed an unexpected contraction in Chinese manufacturing.

“There continues to be broad-based dollar buying,” said Akira Moroga, manager of currency products at Aozora Bank Ltd. in Tokyo. “The Fed is likely to keep reducing asset purchases at the pace they’ve done so far.”

Bloomberg [1]

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.

marketpulsefxstaff

Latest posts by marketpulsefxstaff (see all [4])