Currency Note US Dollar

US Dollar strengthens

By Smart Currency July 8th, 2015

Yesterday was another positive day for the US dollar, as it gained against the majority of its peers. The US currency was strengthening on the back of euro weakness, it is viewed as a safe haven asset, plus Tuesday’s data releases were slightly better than expected, with both trade balance and JOLTS job openings levels showing slight growth.

We can expect fluctuations today, with the release of the US Federal Reserve minutes. This will show a detailed report of the central bank’s most recent meeting – the spotlight will be on members’ views regarding an interest rate hike. The feeling there is that most members are split regarding a rate increase in the coming months or moving into next year as caution over the robustness of the US economic recovery is debated.