US dollar trimms gains on Friday, while sterling gets support from BOE

Posted 22 June, 2018

On Friday, the US dollar is no longer on almost a year peak against the majors. The decline is related to investors' interest in taking profit after the hikes. At the same time, the sterling recovered from the bottom driven by unexpected bullish sentiments in the monetary policy of the Central Bank.

The US Dollar index decreased to 94.23, while earlier it was recorded at 95.533.

Among other factors, the greenback felt pressure from the decreasing yields of the US state bonds and the support for the euro at $1.15 handle. At the same time, expanding tensions under the US-China trade issue affected risk-off support for the US dollar. 

The European currency improved to some $1.1666, after hitting the bottom at $1.1508 a day before.

As for the yen, the greenback showed slight changes changing hands at 110.11. For reference, the weekly high was reached at 110.76 yesterday. Canadian counterpart rose to some 1.3294 against the US dollar, whereas earlier it posted a year low at 1.3336.

The sterling moved up to about $1.3293. The currency progressed once the senior economist at BOE joined the few that called for the interest rate revision to 0.75%. This position fueled market expectations about the monetary tightening in the near term.

Previous story

22 June, 2018 11:32

← Valve to expand Steam with blockchain-based service

The leading US video game company – Valve Corporation – has reportedly started developing a blockchain update for its online Steam market. With such development, the company plans to monitor the achievements of players, including awards, ranks, discounts for other applications in the store, as stated the source familiar with the matter.

Valve to expand Steam with blockchain-based service

Next story

21 June, 2018 14:24

US dollar gets stronger on Thursday →

The US dollar has posted gains against the majors on persisting tensions over US-China trade issue. At the same time, the US trade minister reportedly said to the Senate that neither nor Washington nor Beijing wants trade wars. Moreover, Donald Trump stated he would sign new trade agreements with some countries, though did not name these countries.

US dollar gets stronger on Thursday
Write a comment
 
Prove you’re not a bot + 17 = 37