Dollar buoyed by GDP data as Federal Reserve eyes tighter policy| glObserver Global Economics


The dollar was approaching multiyear highs yesterday next an upward revision to increase data added to a rally sparked by the Federal Reserve’s signal that it would raise rates in the coming months.

Sourced through Scoop.it from: globserver.cn

The dollar index, which measures the currency against a weighted basket of its peers, was up 0.6 % to 97.59, leaving the gauge only about 3 % shy of the 12-year high touched in March. The dollar has climbed 2 % so far in July, fully reversing a decline of 1.5 % for June, as investors have positioned their portfolios for tighter policy from the central bank.

See on Scoop.itglObserver Americas

Author: globserver

Director of Eyecom china

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