The dollar managed to regain its strength in the market after falling in the last few sessions. The U.S. currency managed to recuperate some of the losses as the U.S. bond yields managed to climb, leaving other major currencies dangling on the curb.
The U.S. economy managed to push the Treasury yield on an all-time 2.436 increase this week. This has been the strongest level that the yields managed to hit since September of 2008, which is nearly 10 years ago.
Furthermore, the Federal Reserve is also hinting the market with another interest rate hike that may happen sooner or later. They are also teasing the possibility of having two to three more interest rate hike this year.
The greenback managed to keep an upbeat session despite having a slumping performance this week. The currency was plagued with geopolitical debacle alongside the gripping tension with China and the possibility of a trade war.
Dollar Index Price
The dollar index, which tallies the strength of the dollar against a basket of major currencies, managed to tally stronger results as the session closes. The index was up a total of 028% on the latter market to 89.877 after hovering at its week’s finest figures.
The stronger dollar and great economic figures from the rest of the world kept major currencies such as the euro, pound, and yen on the less desirable plateau of currencies.
The euro was heavily trimmed on the previous session, posting a 0.21% decrease at $1.2346. On the other hand, yen, which was an investor safe haven, was also seeing some drops on the previous session. The dollar and yen pairing managed to hit a 0.10% increase at 107.34 yen.
Furthermore, a large number of investors are also looking to shy away from the problematic Eurozone. As a result, the sterling managed to tally a 0.85% decrease from the previous session settling at a terrible $1.4085.
Dollar, Gold Prices
The commodities’ rally was also apprehended on the sudden surge of the U.S. currency. The gold managed to trade on a flat rate after the session despite having a whole week of the rally due to the lackluster dollar performance.
Spot gold was trading flat during the previous session and managed to end at $1,348.08 per ounce. On the other hand, the U.S. gold futures managed to end the session lower by a total of 0.1% to $1,352 per ounce.
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