The dollar held a gain from yesterday against the yen on easing haven bids and speculation the Federal Reserve will stick to its stance suggesting an interest-rate increase this year.
The euro remained stronger after rallying from an 11-year low yesterday amid speculation the victorious Syriza party in Greek elections will pursue its anti-austerity agenda without forcing an exit from the currency bloc. The single currency extended an advance against the yen after rising the most in two months yesterday. Australia’s currency held near the weakest in 5 1/2 years after a private gauge of business confidence stayed near the lowest since July.
“The U.S. dollar remains supported, and that will continue for the foreseeable future,” said Robert Rennie, head of currency and commodity strategy in Sydney at Westpac Banking Corp. “That’s being driven by other central banks needing to be much more aggressive.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.
Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
EUR/USD retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD remains on the defensive around 1.2500 ahead of BoE
The constructive tone in the Greenback maintains the risk complex under pressure on Wednesday, motivating GBP/USD to add to Tuesday's losses and gyrate around the 1.2500 zone prior to the upcoming BoE's interest rate decision.
Gold flirts with $2,320 as USD demand losses steam
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.