The U.S. dollar traded at one-week highs against a basket of major currencies early on Friday, having been swept higher as investors took aim at the euro in a volatile end to a very choppy month.
The dollar index rose as far as 81.135 from Thursday’s low of 80.545, on track to end the week up 0.7 percent. It was up 1.3 percent so far this month. U.S. dollar bulls welcomed data on Thursday showing the world’s biggest economy grew at a solid 3.2 percent annualized rate in the fourth quarter.
Traders said that was enough to support the view that the Federal Reserve can continue to wind down its stimulus program.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015