US dollar weakens after recent leap

Posted 26 April, 2018

US dollar has posted some weakening in the second half of the week. The American currency decreased after hitting a multi-month peak early this week as the market took some break.

The US Dollar index went down to 90.00, falling below the January high of 91.04.

The driver of the recently observed sharp dollar upturn is soaring 10Y US bond yield, which fueled expectations about early interest rate revision in 2018. Specifically, higher interest rate prospects boosted greenback attractiveness for investors.

As it was reported, the US state bonds jumped over 3% for the first time since 2014, which meant increased confidence in the US economic outlook.

Thus, US dollar weakened against the yen to 109.20 (109.46 earlier).

The euro rebounded to 1.2167 in the pair with the dollar. Investors are waiting for the press conference of the European Central Bank after its meeting.

Positive dynamics was posted by the sterling, which moved up to 1.3971 vs the greenback. Australian and New Zealand currencies also strengthened positions reaching 0.7570 and 0.7076 respectively.

Previous story

26 April, 2018 17:19

← Philippines to greenlight opening of 10 crypto companies

The Philippines may see the appearance of 10 blockchain and crypto exchanges. With the permission of the local authorities, the new companies will be able to run business in the Cagayan Economic Zone. This is the first time when blockchain and crypto companies will get legal approval for business in the country.  Such position of the local authorities can be explained by...

Philippines to greenlight opening of 10 crypto companies

Next story

26 April, 2018 10:49

Price for cryptocurrencies softer with Nasdaq ready to consider crypto platform launch →

Prices for bitcoin and other cryptocurrencies decreased in the second half of the week. The market became somewhat concerned about  the news that  Nasdaq’s chief expressed certain support for the coins. The Bitfinex recorded bitcoin changing hands at $8,818 (almost 6% down d-o-d). The second major coin Ethereum was priced on this platform at 625.99. 

Price for cryptocurrencies softer with Nasdaq ready to consider crypto platform launch
Write a comment
 
Prove you’re not a bot + 13 = 29