The USD has opened the new trading week with strong gains and continued its rally from the last week. The pair EUR/USD opened under 1.32.
US-dollar benefits from data and speculation
The USD continues to benefit from the good U.S. economic data last week. Its current strength is also due to speculation that the Fed may soon correct interest rates upward. After the publication of the minutes of the FOMC meeting in July, it became clear that the voices are stronger for an adjustment of interest rates, and this could happen soon. The Chair of the Fed, Janet Yellen, said on Friday, there are cautious doubt on the long-term recovery of the U.S. labor market, which is used as the strongest argument for an increase in interest rates, but these statements are not as a general attitude towards an increase in credit costs seen.
The EUR currently loses 0.34% on the USD at an rate of 1.3195. In almost all other pairings the USD was able to record profits. Against the GBP currently 0.14%, at 1.6549 and against the JPY 0.24% at 104.20.
Further developments will be seen when the Asian and European trading opens in the morning, the UK market place is closed today due to a holiday. Overall, however, we can look forward to an exciting week of trading.
