The US dollar escalated versus the euro Monday, continuing last week’s speculations the Federal Reserve would increase interest rates in the following months.
Recent comments from Fed officials and minutes of its March meeting, with little US economic data, implied the likelihood of a June rate hike, bolstering demand for the greenback.
That possibility has been placed on the table again… that is “part of what’s driving the dollar higher,” said Omer Esiner, Chief Market Analyst at Commonwealth Foreign Exchange.
The dollar eased against the Japanese yen, trading at ¥120.050. Against the Swiss franc, the currency was at 0.97665 franc. It also ended at $1.05750 per euro.
The material has been provided by InstaForex Company – www.instaforex.com