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

U.S. Dollar Remains Flat

The dollar index ended little changed on Friday as it stayed on track for a record eighth month of gains on improving U.S. data and comments from Federal Reserve officials that bolstered bets for a interest rate rise later this year.

This measure of the greenback against the euro, yen and four other currencies was set to mark its longest streak of monthly gains since the greenback was floated as a fiat currency in 1971. February’s gain of about 0.52 percent, however, was the smallest of the eight months.

The dollar overcame earlier month-end selling that followed a rally on Thursday, as more evidence suggested the U.S. economy will expand in the coming months.  “The trend is still in place to support the dollar,” said Eric Viloria, currency strategist at Wells Fargo Securities in New York.

CNBC [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.


Latest posts by marketpulsefxstaff (see all [4])