The US dollar continues to strengthen today, in the fact of global uncertainty, and as the Federal Reserve continues tapering efforts. There is a lot helping the greenback right now, and it is little surprise that the dollar index is gaining ground today.
Once again, data from around the world shows that the US economy is doing comparatively well. Chinese data has been disappointing, and, once again, the eurozone proves that it is far from recovered. As a result, the US dollar is higher against the euro and some of its other counterparts, and the dollar index is higher.
The Federal Reserve is moving forward with its gradual asset purchase tapering program. The news is enough to support the dollar, even though unemployment claims ticked a little bit higher in the last report. So far this year, with risk aversion growing, and with concerns about other economies, the US dollar is a currency leader.
At 14:37 GMT the US dollar index is higher, moving up to 81.2330 from the open at 81.0610. EUR/USD is down to 1.3514 from the open at 1.3548. GBP/USD is higher, though, moving up to 1.6481 from the open at 1.6474. USD/JPY is down to 102.2450 from the open at 102.7415. USD/CAD is up to 1.1203 from the open at 1.1166.
If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.
