The US dollar remained below the opening level for the duration of the current trading session. Losses were small, though, and the currency remains among the best performers on the Forex market.
The dollar started the session with losses and came to the end of the session remaining below the opening level. Yet the drop looks like a small correction during a strong bull move, not a reversal of the upward trend.
Overall, the trading environment remains extremely positive for the US currency. Good news from the United States, including yesterday’s strong GDP growth and today’s unexpected drop of jobless claims, feeds the idea of an early interest rate hike from the Federal Reserve. This in turn makes the dollar a very attractive currency.
The trading session ended early today due to the Christmas holiday.
EUR/USD went higher from 1.2172 to 1.2189, reaching the maximum of 1.2219 intraday. GBP/USD rose from 1.5519 to 1.5549 while USD/JPY dropped from 120.68 to 120.46.
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