United States — News Archive

The US dollar was strong for the most part of the week, boosted by policy meetings of the Federal Reserve and the European Central Bank, though the currency weakened somewhat on Friday.

The US dollar gained sharply on other currencies today after the European Central Bank made a surprisingly dovish policy statement. Yesterday, the currency had a mixed reaction to the hawkish statement from the Federal Reserve, rallying initially but falling afterwards. Yet Fed hawkishness is a bullish factor in the long and may be responsible to some degree for the currency’s rally today.

The US dollar was rather soft due to concerns that potential trade wars between the United States and their allies can damage the US economy. Positive domestic macroeconomic data was unable to bolster the greenback.

The currency market was a roller coaster this week as currencies were swinging up and down on political turmoil in various parts of the world. The US dollar ended the week as one of the weakest currencies despite the very positive employment report.

The US dollar rallied against most major peers today after employment data showed better-than-expected readings for all major indicators. The Great Britain pound managed to outperform the greenback, though, thanks to the positive report about Britain’s manufacturing.

The US dollar was rather soft today, falling against its most-traded rivals, though it has managed to pare losses versus some of its peers by now. The major topic for today was expiration of the tariff exemption for the closest US allies.

The Japanese yen ended the week as the strongest among the major currencies, supported by risk aversion. Market participants were seeking a safe haven amid geopolitical tensions and economic worries, and that led them to the safety of Japan’s currency.

Macroeconomic data released in Japan today was rather disappointing. Yet that did not prevent a sharp jump of the Japanese yen on the back of the worsening market sentiment.

The US dollar traded almost flat against most of its major peers amid profit-taking and in anticipation of the upcoming policy minutes from the Federal Reserve.

The Australian dollar rose earlier today, extending yesterday’s rally, on the back of the positive market sentiment. Yet the currency has retraced its gains by now.