Dollar Continues Friday’s Growth

The U.S. dollar continued to grow today during the Asian trading session as the traders followed the Friday’s trend and are now expecting some hawkish commentaries from the next Ben Bernanke’s speech.
Despite the weak report on the employment situation, which was released last Friday, the investors saw it as a rather positive signal and switched to buying the dollar, which lead to the new weekly minimums on EUR/USD.
Dollar growth against the euro, the Japanese yen and British pound stimulated the fall on the oil market today. But some market analysts expect the EUR/USD rate to return to the high levels of the last Thursday near 1.5760 later today.
Ben Bernanke, the Chairman of the Federal Reserve, will be delivering a speech at Federal Deposit Insurance Corporation?s Forum on Mortgage Lending to Low and Moderate Income Households tomorrow. Traders expect that his commentary may have some positive effect on the U.S. currency.
EUR/USD fell down from 1.5691 to 1.5661 as of 10:54 GMT today, but the lowest daily value was at as low as 1.5611, which is the lowest level since June 25. USD/JPY opened at 106.81 today and rose to 107.44, while the daily maximum is already at 107.70.

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