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.

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22 June, 2018 11:32

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US dollar gets stronger on Thursday →

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US dollar gets stronger on Thursday
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