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Dollar Higher on Estimations for a Rate Hike

Weekly synopsis

The dollar approached its strongest level, since the beginning of February, following the FED's estimations that a rate hike could take place before the end of 2016.

U.S. dollar index 0.34% upper

The U.S. dollar index traded to 98.62, 0.34% higher. During the week the index appreciated 0.7%.

Amid the estimations that Hillary Clinton could become the next President of the U.S., the view for a probable hike in December seems more likely to occur.

Upon the euro weakening, following the ECB's policy meeting on Thursday, the greenback gained momentum. Mario Draghi highlighted that the European Central Bank might extend, in December, its stimulus plan.

Furthermore, the euro, last Friday, dropped to 1.0882, a seven-month low. The USD/JPY traded to 103.77, dipping 0,15%, and the GBP/USD traded to 1.2231, declining 0.18%.

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Monday, 24 Oct, 2016 / 8:22

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/dollar-higher-on-estimations-for-a-rate-hike

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