Greenback is heading higher today as the latest ECB announcement is made. Concerns that the Fed won’t raise rates until next year are being overcome by the insinuations that more quantitative easing could be coming for the eurozone by the end of the year.
The US dollar index is higher today as the greenback gains against the euro, pound and yen. US dollar is mostly higher today, gaining as Mario Draghi hints that more quantitative easing could be coming for the eurozone by the end of the year.
While there is speculation that the Federal Reserve will put off raising rates until next year, the US economy still shows signs of growth. The growth is slower than expected (probably due in part to the dollar’s recent strength) and there are still worries about how slowing growth in China might impact the overall global economy. Even so, may expect the Fed to begin raising rates by early 2016, and with the eurozone poised to add more stimulus, the greenback has the upper hand.
At 13:26 GMT the US dollar index is up to 95.774 from the open at 95.006. EUR/USD is down to 1.1204 from the open at 1.1339. GBP/USD is down to 1.5415 from the open at 1.5416. USD/JPY is up to 120.0640 from the open at 119.9280.
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