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Dollar hits 5-day high
28/7/2018 12:00 am [rtl]LONDON (Reuters) The dollar rose to a five-day high on Friday as investors awaited US GDP data and whether it will do anything to influence the US currency, which has been strong for months. US President Donald Trump expressed his dissatisfaction with the strength of the dollar, ignoring the usual practice of US leaders avoiding public intervention in financial markets. The US currency, however, has remained flat near a record high last year. The dollar continued its gains on Friday, rising 0.4 percent against a basket of currencies to hit a high of 94.796, a five-day high, before trading little changed. At the same time, the euro replaced some of its losses on Thursday when the European Central Bank kept its time schedule to abandon its monetary policy. The euro was practically stable at $ 1.1654. The single currency fell more than 0.7 percent on Thursday after the ECB meeting. The dollar fell 0.3 percent against the Japanese currency to 110.965 yen after unable to maintain gains after briefly rising to 111.25 points. Sterling was little changed at $ 1.3123. The British currency was down 0.6 percent in overnight trade as the strength of the dollar and further uncertainty over the UK's secession negotiations soured the positive impact of betting on the Bank of England's interest rate hike next week. The Australian dollar was up 0.2 percent at $ 0.7392, recovering slightly from the previous day's drop.[/rtl] http://www.alsabaah.iq/ArticleShow.aspx?ID=160686 |
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