Friday, February 20, 2015

US Dollar Holds Ground as Federal Reserve Set for Another Rate Hike

US dollar, greenback, economy, finance

The US Dollar continue to stay strong while the Federal Reserve is set to raise interest rates this year. On Thursday, the greenback is up for more than a week versus other currency as a result of dropping jobless claims and belief that the U.S. economic growth is outpacing other developed nations.

Against the Euro the U.S. dollar is $1.1365 per euro as of 8:46 a.m., it gained 0.3% when the German Finance Ministry rejected Greece’s proposal for an extension to its rescue loans before adopting the stance that the approach stood as the basis of negotiations. The U.S. dollar gained 0.1% against the Yen at 119.03.

The Bloomberg Dollar Spot Index added 0.5 percent to 1,167.35 on Thursday, its biggest gain since Feb. 11.

The jobless claims were down by 21,000 to 283,000 in the week ended February 14, from 304,000 in the prior period, a Labor Department report showed Thursday in Washington. The median forecast of 50 economists surveyed by Bloomberg News called for 290,000.

No comments:

Post a Comment