Dollar Surges after Rate-Hike Assumptions
The Dollar ended the week with monthly records against its major six rivals, indicating a broad strenght of the US currency.
Major investors and forex analysts expect that recent stronger economic data will prompt FED to higher interest rates sooner the earlier expected.
Stronger data supports the US dollar
The recent series of stronger data are shifting to support the dollar. “At least from an interest-rates perspective,” said Mike Moran, senior forex strategist at Standard Chartered Bank in New York.
Before the end of the weekend in New York, the Euro was at $1.46 from $1.4729 late Thursday. The Dollar also surged against the Yen, from Y88.21 to Y89.22. The U.K. sterling pound just moved slightly, to $1.623 from $1.6267.