US dollar reaches weekly high against the majors

Posted 09 January, 2018

The US dollar has posted a weekly peak against other key currencies on January 9, with strong support coming from new expectations about interest rate upward revision by Federal Reserve.

Specifically, the rise is related to the statement of the Federal Reserve representative about the planned 3-fold increase of the rate in 2018 amid growing US economy on lower taxes.

At the same time, a day before the head of the Federal Reserve announced a forecast for four revisions this year driven by stable economic growth in the country and low unemployment.

The current US dollar index (DXY) stands at 92.27 (0.21% up).

European and British currencies weakened. EUR-USD rate decreased 0.29% to 1.1933 and GBP-USD – 0.31% to 1.3526.

AUD to USD exchange rate dipped 0.28% to 0.7821. NZD-USD pair was stable at 0.7170, whereas USD-CAD one rose 0.12% to 1.2437.

The US dollar-to-Japanese yen exchange rate dropped 0.23% to 112.85, while that of  USD-CHF added 0.54% coming to 0.9824.

Notably, Japan's bank has reduced bond redemption volume by 5% earlier this day willing to harmonize the monetary policy eventually.

Previous story

09 January, 2018 15:57

← Bank of Japan cuts state bond redemption, market discusses possible policy tightening

On Tuesday, January 9, the market is actively discussing the possible cancellation of monetary incentives by the Bank of Japan after it lowered the volumes of state bond redemption.It looks like, traders have focused on the bank's statement about decreased purchases of long-term bonds. As a result, US dollar-to-yen exchange rate lost some 0.5%...

Bank of Japan cuts state bond redemption, market discusses possible policy tightening

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