Dollar up as analysts consider rate moves

| September 16, 2005 | 0 Comments
Dollar up as analysts consider rate moves

Friday’s release of TIC data showing net capital inflows at $87.4 billion in July, well above what was expected and more than compensating for July’s trade deficit of $57.4 billion, helped the US dollar on world forex markets.

The greenback didn’t seem bothered by data showing that the current account deficit was at $195.66 billion for the second quarter, higher than the expected $193 billion but better than the revised first quarter figure of $198.67 billion.

Analysts are divided over whether or not the Federal Reserve will raise interest rates next week or will leave them at current levels.

The dollar was up 1.4 percent on the week to ¥111.38 in relation to the yen, while it gained 2.1 percent to $1.8032 against sterling.

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

Visited 1255 times, 1 so far today