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U.S. dollar higher recovering last week's drop


The U.S. dollar traded higher versus its major counterparts, thus recovering from its previous one-week consecutive drop, amid the optimism that the U.S. economy will strengthen.

Euro and U.S. dollar trade at 1.0650

The EUR/USD approached the 1.0650 level, falling 0.22%, as the dollar was supported by Yellen's statement on Tuesday at the Senate Banking Committee.

Following the Senate Banking Committee's comments that retail sales for January dropped 0.3%, failing to meet the estimations for 0.9% appreciation, the GBP/USD traded at 1.2425 declining 0.52%.

The USD/CHF traded to 0.9984 adding 0.13%, and the USD/JPY to 112.75 sliding 0.43%. The NZD/USD approached the 0.7192 zone dropping 0.26%, and the AUD/USD traded at 0.7668 0.38% lower.

The USD/CAD stabilized at 1.3078, and the U.S. dollar index climbed to 100.58 appreciating 0.14%.

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Source: https://www.argusfx.com/en/research-education/market-analysis/news/u.s.-dollar-higher-recovering-last-week-s-drop
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