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U.S. dollar higher amid FED's probable hike soon

Weekly synopsis

U.S. dollar ended on the upside, last week, versus its major counterparts, amid two top FED officials' having commented that a rate hike could likely take place as of next month.

U.S. dollar index to 95.58

The U.S. dollar index appreciated the most since August 2016 to 95.58 while having ended 0.8% higher at 95.48 on Friday.

The investors, the traders, and the analysts estimated a 33% probability that the FED will be performing a rate hike, definitely lower than the expectancy rate of 60% in December.

Furthermore, the dollar traded against the yen at 101.80, having soared 1.26%. For the week the pair climbed 1.61% and performed its first loss within a period of five weeks.

The EUR/USD reached its weakest zone settling at 1.1195, slipping 0.77%. The sterling and the U.S. dollar approached the 1.3140 level and traded 0.4% lower.

As per Friday's data, the economy in the U.K appreciated, in Q2, by 0.6%, expanding on a yearly basis by 2.2%. These are good signs that the British economy remains strong despite the Brexit vote.

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Monday, 29 Aug, 2016 / 7:25

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/u.s.-dollar-higher-amid-fed-s-probable-hike-soon

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