Dollar jumps to four-week peak

Economies.com
2020-01-20 13:08PM UTC

The US dollar rose against a basket of currencies on Monday, charging for the third straight daily gain, hitting a 4-week high on successive robust US economic data about its economic growth path.

 

The dollar index rose by 0.1% to 97.73 points, after it opened at 97.64, and hit an intraday low of 97.58.

 

The greenback gained more than 0.35% on Friday, and posted its second daily gain, buoyed by upbeat economic data on the US housing sector.

 

During the past week, the dollar index rose 0.3%, its second straight weekly gain, as demand increased against a basket of major currencies.

 

Investors focused on buying high-yield currencies, especially the US dollar, thanks to risks around the US economy receding, especially regarding the US-China trade tensions and geopolitical tensions in the Middle East.

 

The greenback also drew support from strong US data, which have spurred confidence in the US economic growth path during Q4 2019.

 

Last week, the US retail sales reading showed a rise during December, and the housing starts hit a 13-year high.

 

While today the US market will be closed in observance for the Martin Luther King Day.

Forex and Currency News

Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...
USD/JPY news

Forex

Japan sends the stronger warning after yen crashes to 34-year nadir
2024-03-27 08:50AM UTC
Yen tumbled in European trade on Wednesday against a basket of major rivals, sharpening losses for ...
AUD/USD news

Forex

Aussie is worst performing G8 currency after inflation data
2024-03-27 05:33AM UTC
The Australian dollar fell in Asian trade on Wednesday against a basket of major rivals on track ...

Forex Technical Analysis

EUR GBP Analysis

Forex

The EURGBP settles below the resistance – Forecast today – 28-3-2024
2024-03-28 05:37AM UTC
EURGBP Pair Analysis and Forecast Expected Scenarios New negative close below the bearish ...
EUR JPY Analysis

Forex

The EURJPY leans above the major support – Forecast today – 28-3-2024
2024-03-28 05:35AM UTC
EURJPY Pair Analysis and Forecast Expected Scenarios Stability above the bullish ...
GBP JPY Analysis

Forex

The GBPJPY repeats the negative closings – Forecast today – 28-3-2024
2024-03-28 05:35AM UTC
GBPJPY Pair Analysis and Forecast Expected Scenarios Weak trades yesterday with fluctuation ...