© Reuters. The dollar declined after the Fed and the figures
Investing.com – The dollar declined on Thursday after rising the previous day on the us data and the minutes of the meeting of the Federal Reserve.
The index dollar, which measures the greenback’s strength against a basket of currencies, gave up 0.07% to 91.83 to 91.83 by 02:58 AM ET (07:58 AM GMT).
On Tuesday, the index fell to a low of three and a half months of 91.47.
The dollar is gaining ground Wednesday on the manufacturing index, and construction.
It is also found support after the minutes of the Federal Reserve, showed that officials have discussed a reduction of taxes, which could require an increase in interest rates at a faster pace in 2018.
The Fed has scheduled three rate hikes this year and two more by 2019.
Higher interest rates boost the dollar, making the currency more attractive to investors in search of yield.
The euro rose with the EUR/USD up 0.17% to 1.2035 after falling 0.4% on Wednesday. The single currency touched a high of four months to 1.2080 Tuesday, close to the highest level since September estimated at 1.2092.
The dollar exchange rate against the yen, with USD/JPY at 112.54, ranging from a low of two and a half weeks reached on Tuesday and estimated at 112.04.
The book is stable, with the GBP/USD at 1.3520 after having declined to 0.57% the previous day.
In the meantime, the usd new zealand and australia are in progress with the AUD/USD up 0.22% to 0.7852 and the NZD/USD up 0.47% to 0.7123.