US dollar shows some gains after 3-day softening

Posted 02 February, 2018

The US dollar has slightly increased vs the majors on Friday after almost 3-day weakening. Investors remain in a careful mode on upcoming employment report in the USA.

The upward dynamics is related to the Wednesday statement of the Federal Reserve about its confidence in high economic growth and faster inflation in the USA.

For reference, the Federal Reserve forecast higher inflation rate this year, which supported expectations of further upward revision of the interest rate by the Federal Reserve under the leadership of Jerome Powell. As insiders mostly expected the January meeting of the Federal Reserve left interest rate unchanged.

This morning the US Dollar index (USD capacity vs 6 main currencies) rose to some 88.55. The WSJ Dollar index (USD dynamics vs 12 main currencies) added 0.16%.

The European currency somewhat weakened against the US dollar reaching some 1.2480; the sterling was recorded at 1.4262 over the period under review.

The Japanese yen dropped with USD-JPY rebounding to 109.73. The US dollar-to-franc exchange rate stayed unmoved at 0.9268.  

The USD-CAD rate moved up to 1.2278. The Australian and New Zeland currencies trimmed gains vs the US dollar coming to 0.7372 and 0.7374 respectively.

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02 February, 2018 15:05

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01 February, 2018 15:28

US dollar on the wane driven by investors' concerns →

The US dollar has started sliding vs the majors today. Investors remain in the careful mode ahead of the US employment report to be published this Friday. After a short-lived upturn, the American currency has resumed downward movement on the Federal Reserve's statement about confidence in high economic growth and faster inflation in the USA.

US dollar on the wane driven by investors' concerns
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