Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Forex - Dollar higher against euro after Fed, U.S. GDP ahead

Published 30/07/2015, 08:18
© Reuters.  Dollar broadly higher afater Fed, U.S. GDP data awaited
EUR/USD
-
USD/JPY
-
DX
-

Investing.com - The dollar was higher against the euro and the other major currencies on Thursday after the Federal Reserve indicated that interest rates could rise in the coming months, possibly as early as September.

EUR/USD was down 0.20% to one-week lows of 1.0961 from 1.0983 late Wednesday.

In its rate statement on Wednesday the Fed noted that the economy and the labor market had continued to strengthen, reinforcing expectations for an initial rate hike at its September meeting.

Fed officials said they felt the economy had recovered from a first-quarter slowdown and was now "expanding moderately."

Fed Chair Janet Yellen has said the central bank could raise rates as soon as September if the economy continues to improve as expected.

The U.S. was to release figures on second quarter growth on Thursday, which were expected to show that the economy rebounded following a contraction in the first quarter after an unusually harsh winter.

The dollar rose to almost two-week highs against the yen, with USD/JPY up 0.22% to 124.21.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.27% to one-week highs of 97.50.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.