The US dollar index is higher today, even though the greenback is trading mixed against its major counterparts. Lackluster data and remarks from Fed Chair Yellen are still weighing on the dollar to some degree.
US dollar is trading mixed against its major counterparts today. The dollar is down against the euro and a yen, but up against the sterling and the loonie.
Recent US economic data has not been that great. Additionally, earlier this week Federal Reserve Chair Janet Yellen remarked that there are still risks to the economy and that rate hikes should be considered carefully. All of this points the idea that the next Fed rate hike is unlikely to come until at least June. Some analysts even see the Fed pushing back another rate hike until fall.
All of this is weighing on the US dollar to some degree. Earlier this week the dollar index was at a low not seen for five months. Today, the dollar index is higher than the latest open, but still somewhat weak comparatively speaking.
At 13:24 GMT US dollar index is up to 94.657 from the open at 94.636. EUR/USD is barely higher gaining to 1.1382 from the open at 1.1380. GBP/USD is down to 1.4212 from the open at 1.4360. USD/JPY is down to 112.0510 from the open at 112.5700.
If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.
