The dollar held a gain from yesterday against the yen on easing haven bids and speculation the Federal Reserve will stick to its stance suggesting an interest-rate increase this year.
The euro remained stronger after rallying from an 11-year low yesterday amid speculation the victorious Syriza party in Greek elections will pursue its anti-austerity agenda without forcing an exit from the currency bloc. The single currency extended an advance against the yen after rising the most in two months yesterday. Australia’s currency held near the weakest in 5 1/2 years after a private gauge of business confidence stayed near the lowest since July.
“The U.S. dollar remains supported, and that will continue for the foreseeable future,” said Robert Rennie, head of currency and commodity strategy in Sydney at Westpac Banking Corp. “That’s being driven by other central banks needing to be much more aggressive.”
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015