US dollar up for sixth straight session
by Elaine Frei
The US dollar strengthened again on Monday, making its sixth straight rise in a row as more and more analysts came around to the position that the Federal Reserve will likely raise interest rates again when it meets later in the month. If the rate hike does come, it will be the 17th time in a row that the Fed has sent interest rates higher.
The greenback added 0.3 percent versus the euro to $1.2586, while it gained 0.2 percent on the Swiss franc to SFr1.2336 and rose 0.1 percent to ¥114.23 in relation to the Japanese yen.
Meanwhile, the euro also weakened slightly against the yen and the Swiss franc, to ¥143.86 and SFr1.5532 respectively. The shared currency also dropped 0.2 percent versus sterling, to £0.6825. The declines came as data shoed net-long positions on the euro are up to record high levels and as a meeting over the weekend of the G8 finance ministers closed their meeting without calling for weakening of the US dollar.
Sterling was helped by a rise in factory gate inflation that was 0.3 percent in May, which sent the annual rate to 3 percent. The UK currency was up by 0.2 percent in relation to the US dollar, to $1.8435.
Discuss this in the Finance Markets forums
Story link: US dollar up for sixth straight session
Add to Bookmarks:
Related financial stories to: US dollar up for sixth straight session
- US dollar strengthens for third straight day
- US Dollar stronger during session
- FTSE 100 lower for sixth consecutive session
- Oil prices down for seventh straight session
- US dollar strengthens on data
- US dollar weaker against Asian currencies
- US dollar higher on positive data
- US dollar weakens on interest rate speculation
- Dollar weaker as euro strengthens
- US dollar weaker after Monday’s gains
Previous: « Bond yields up in US, Japan
Next: London markets lower on quiet day »
Visited 380 times, 1 so far today
