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The US dollar rose Friday in the European market against a basket of world currencies, extending its gains for the fifth consecutive day, the highest level in two weeks, the biggest weekly gain since May, based on strong prospects interest rate hike Again this year twice.
The dollar index rose more than 0.2% at 1235 GMT, trading at 94.80 points, the opening level of 94.60 points, the highest at 94.98 points since June 29 and the lowest at 94.55. Point.
The index closed yesterday up 0.1%, the fourth gain in a row, while major purchases of US currency against the Japanese yen and other low-yielding currencies continued.
During the week, the index rose 1.2% on the day, posting the biggest weekly gain since May, given the strong outlook for rising interest rates from the Federal Reserve twice this year.
This outlook was strengthened this week after positive data on US producer and consumer prices in May reflecting the continued US inflation recovery this year, strongly dependent on US monetary policies. The cycle raised interest rates four times in 2018, and the Fed raised its interest rates twice this year to 2.0%.
The US economy is expected to release a major release on consumer confidence later today. Preliminary reading of the University of Michigan Consumer Confidence Index in July should be 98.1 points compared to 98.2 in June. The apostles
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