U.S. Dollar Near Eight Week High on Upbeat U.S. Data

The U.S. dollar held steady near an eight-week peak against a basket of major currencies on Wednesday, having edged up on the back of encouraging U.S. economic data.

The dollar index last stood at 80.340, staying near a high of 80.470 set on Tuesday, its highest level since early April.  Dollar bulls took heart after data on Tuesday showed orders for long-lasting U.S. manufactured goods unexpectedly rose in April and consumer confidence perked up in May.

Against the yen, the dollar held steady near 101.94 yen, staying within sight of a near two-week high around 102.14 yen that had been set on Tuesday.


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.