The dollar continued to rise against other most-traded currencies, including the euro and the Great Britain pound. The currency fell a little today, but retained most of its yesterday’s gains. It stayed flat versus the Japanese yen.
Prospects for reduction of Federal Reserve’s quantitative easing continued to support the immense rally of the US currency. It is true that there is an opinion that it is too early for trimming stimulus and such view helped some riskier currencies. But for the most market participants cutting of accommodative measures in the near future looks like an established fact and the only question remains when exactly this “near future” comes.
The Dollar Index rose for the seventh session, the biggest stretch of gains in more than a year. It reached 82.977 yesterday, the highest close this month.
EUR/USD was at 1.3029 as of 2:15 GMT today after falling from 1.3075 to 1.3009 yesterday. GBP/USD traded near 1.5331 following the drop from 1.5417 to 1.5309 on the previous session. USD/JPY was little changed at 97.78.
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