On Friday, February 16, the US dollar has reversed direction and rebounded vs the majors after touching a 3-year bottom. The improvement is related to optimistic construction sector report in the USA.
Negative impact on the US dollar positions came from the fears of the US budget deficit that may reach some $1 trillion in 2019 on expanded infrastructure spending and corporate tax reduction.
However, today American currency has got support from the January housing report. According to the released data, in January US housing construction and construction permits peaked over the year and since early 2007 respectively.
The US Dollar index increased to 88.82, whereas early today it was seen at 88.16.
The euro and sterling to US dollar slipped to 1.2455 and 1.4032 respectively. The yen and franc weakened as well. USD-JPY and USD-CHF pairs stayed at 106.28 (0.15% down) and 0.9247 (0.25% down) respectively.
The AUD-USD lost 0.20% falling to 0.7925 and NZD-USD – 0.27% to 0.7388.
The US dollar rose against its Canadian counterpart to 1.2529.