The US dollar has posted gains Wednesday morning driven by the report of US Federal Reserve Chairman in the Congress.
In the speech, Jerome Powell was positive about the US economic situation and stated that the regulator supports a permanent increase of the interest rates.
The US Dollar Index moved up to 95.03 in the middle of the week.
With the optimistic position of US Federal Reserve Chairman, the US dollar to yen exchange rate reached a half-year peak at some 112.97. At the same time, the rate touched a local bottom of 113.08.
The yuan has weakened vs the greenback – the US dollar to yuan exchange rate rose to 6.7124.
The Australian dollar has remained on the downward track and for now, the currency fell down to 0.7351 against its American counterpart.
The euro to US dollar rate decreased to $1.1610, while the yesterday's trading was closed at $1.1661. The European currency lost grounds vs the yen as well. The rate dropped to 131.54 (131.64 earlier).
One of the market analysts beleives that the greenback will expand more in the pair with the Japanese currency citing better risk demand. Notably, Jerome Powell noted that the protectionism jeorpardise the economy as it can affect the economic upturn.