Currency – The dollar is moving towards Trump and the Fed


© Reuters. The dollar is moving towards Trump and the Fed

Investing.com – The dollar is advancing against a basket of currencies on Tuesday, boosted by yields of bonds higher, as investors turn to the speech of the american president Donald Trump and the policy meeting of the Federal Reserve.

The index dollar, which measures the greenback’s strength against a basket of currencies, gaining 0.29% to 89.43 at 02:55 AM ET (07:55 AM GMT).

The yields of the u.s. Treasury, reached Tuesday, to new heights of several years, after that the comments of an official of the european central Bank fueled expectations of major central banks to start reducing their monetary stimulus.

Market participants expect the speech of Trump on the state of the Union next Tuesday, for all that he could say more on the dollar. The president also had to expose his infrastructure plan is very expected in the speech.

The dollar dropped last week after the us Treasury secretary, Steven Mnuchin, had given his assent implied in a weak currency. Trump has later tried to contradict these comments, saying that he wanted to finally that the dollar is strong.

There was also a focus on the Fed, which was expected to begin its policy meeting two days later on Tuesday.

The dollar is advancing against the euro, with EUR / USD sliding 0.32% to 1.2342, down from highs of more than three years of 1.2537 reached last week.

Against the yen, the dollar falling, with the USD / JPY down 0.18% for trading 108.75, falling to a low of four and a half months of 108,27 reported Friday.

The pound sterling declined, with the GBP / USD down 0.59% to 1,3991 while the recovery of the dollar and fears of renewed weighed on the Brexit, the draft law for the withdrawal of the british Prime minister Theresa May is criticised.

The dollars of australia and new zealand are retreating against their u.s. counterpart, with AUD/USD down 0.52% to 0.8049 and NZD/USD down 0.55% to 0.7282.

Like this post? Please share to your friends:
Leave a Reply