The US dollar rallied today with the help of very impressive economic data from the United States. It is a stark contrast to the yesterday’s trading session, which ended with huge losses for the US currency due to bad economic indicators. At the same time, the Great Britain pound was able to outperform the greenback.
The vast majority of economic indicators from the USA were good, and even those, which fell from a previous reporting period, were better than forecasts. The most positive report was the one that showed a drop of jobless claims to the lowest since 2000. With the supportive data, the dollar regained its appeal as a safe currency.
Yet even with all the support from fundamentals, the US currency was unable to completely reverse yesterday’s losses. What is more, the greenback fell against the sterling for the second consecutive session.
EUR/USD was down from 1.2837 to 1.2706 intraday before trading at 1.2798 as of 22:07 GMT today. USD/JPY went up from 105.91 to 106.34. Meanwhile, GBP/USD advanced from 1.6019 to 1.6073.
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