Dollar Retains Strength After Mixed Data

Thursday’s macroeconomic reports from the United States were mixed, but this did not prevent the US dollar from rising. The currency reached the highest level since May 27 against the euro and the strongest since June 24 versus the Japanese yen.
Supporting the US dollar, jobless claims fell last week and net foreign purchases increased in May instead of falling. On the negative side, the Philadelphia Fed manufacturing index dropped much more than analysts had anticipated. The dollar gained despite the negative factors, still driven by the outlook for higher interest rates in the USA. The greenback kept its earlier gains versus the euro after the European Central Bank left its monetary policy unchanged at today’s meeting.
EUR/USD was down from 1.0945 to 1.0880 as of 23:38 GMT today. USD/JPY advanced from 123.74 to 124.16.

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