Wednesday, May 24, 2017

Dollar grows moderately against

Dollar grows moderately against world currencies, the US macroeconomic data is not expected

On Monday, the dollar shows a moderate increase in relation to major currencies in quiet trading as the US currency continues to recover positions after a fall at the end of the last meeting of Federal Reserve policy, and the US economic data publications are planned for the day.

The EUR / USD is stable at the level of 1.1272.

US dollar weakened last week after the Federal Reserve said that the increase rate only twice this year, instead of the four initially planned.

Responsible for the Fed policy officials said that the US economy faces risks associated with the uncertainty of the global economy, although a moderate recovery and the "steady growth of employment" allow the US central bank will continue to tighten monetary policy this year.

The euro came under pressure after Friday chief economist of the European Central Bank Peter Praet said that the interest rate in the euro zone may fall even lower.

USD / JPY is stable at 111.51.

Markets in Japan closed for a national holiday.

The dollar edged higher against the pound, with GBP / USD pair fell by 0.62% to 1.4394 and steady against the Swiss franc, with USD / CHF was trading at 0.9691.

The pound came under pressure after Ian Duncan Smith, the British Minister for Labor Affairs and pensions, as well as a member of the Conservative Party, unexpectedly announced his resignation on Friday evening due to disagreements over the budget policy of the government, which he considers "too unfair" .

In his farewell statement Sunday Duncan Smith explained that his decision not to support triggered by the output of the UK from the EU campaign, known as Brexit, ahead of the referendum on membership, which will be held on 23 June.

He criticized the recent reduction in the social security of people with disabilities, and tax cuts for the rich.

Meanwhile, the Australian dollar was little changed, AUD / USD pair was trading at 0.7603, while the NZD / USD pair fell by 0.37% to 0.6770.

USD / CAD pair rose by 0.48% to 1.3067 after falling to a minimum of five months 1.2919 Friday.

Commodity Canadian dollar came under pressure on Monday as oil prices fell amid concerns about excess global reserves after the number of operating rigs in the US rose for the first time since December.

USD index which shows the dollar against a basket of major currencies, rose 0.13% to 95.19, rebounding from a five-month low on Friday 94.61.



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