A New Life For The USD
There are numerous factors that have contributed to the strengthening of the US dollar
The Dollar index rose by 0.20% to 94.801, the weakness of the euro and the British pound allowed the dollar to resume.
Let’s see the main ones:
Rumors on the appointment of the new Federal Reserve Chairman, where it seems that the choice is now restricted to two candidates
ECB announcements and Draghi statements
The rise in government bond yields in the United States
The US Dollar roared higher last week, advancing to a three-month high as already firming Fed rate hike speculation found added fuel in brightening fiscal stimulus hopes. Separate maneuvers in the Senate and the House of Representatives appeared to pave the way for realizing tax cuts that President Trump promised on the campaign trail, with legislators now aiming to get them on the books by year-end.
USD Index Trading Bullish
So more upside is expected this week.