Greenback stands tall after data enhances American rate hike expectations

On Wednesday, the greenback hovered close to a three-week peak against a basket of currencies after positive American data enhanced expectations of a near-term rate lift by the Federal Reserve.

The dollar index was little intact at 96.028 having soared to 96.143 overnight, the highest value since August 10.

The major American currency got a boost on Tuesday right after the Conference Board told its consumer confidence index edged up to an 11-month peak in August. Other data disclosed that house price growth slumped in June, though still remaining strong.

The greenback, that was at around 100.500 yen at the beginning of the week, was little intact at 102.895 having grown on Tuesday to a one-month high of 103.140.

Comments on Friday by Fed Chair Janet Yellen had intensified expectations that the US major bank could raise lifts as early as September, and the financial markets will be waiting for more data to see if the American economy is steady enough to withstand monetary tightening.

Scroll to top