The US dollar had a positive day yesterday, with both data releases and worldwide events contributing to a strengthening currency. The most significant releases of data from stateside all came out either in line with or ahead of expectations, resulting in support for the dollar. The inflation data from the Consumer Price Index was as predicted, while both the building permits and manufacturing sales figures surpassed their expected levels.
The Federal Reserve decision on whether to continue the trend of decreasing the quantitative easing level looms ahead, and positive economic data has been giving investors encouragement that this will happen.
Aside from data, the ongoing uncertainty surrounding the Ukraine and Crimea situation continued to have a bearing on worldwide markets, with safe haven currencies like the US dollar still on investors’ agendas, resulting in positive sentiment for the dollar.
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