The U.S. dollar recovered against the Japanese yen today after the dollar lost significantly against yen on Friday and this week trading opened with a wide gap against the greenback on Forex.
Today the U.S. dollar continued to head for its second monthly gain against such currencies as the euro and the Japanese yen as the country’s economical situation showed some improvement over the recent weeks.
The U.S. dollar rose today to highest against the euro since May 20 as the Federal Reserve Bank of Dallas President Richard Fisher said that the interest rate increase is possible on elevated inflation fears.
The U.S. dollar declined today against other major currencies as the International Monetary Fund stated that there are still serious risks to the global financial market connected with the U.S. real estate crisis.
The U.S. dollar extended its gain against other major currencies on Forex today as the investors expect higher April CPI figures from the report that will be released today at 12:30 GMT.
The U.S. dollar rose today during the late Asian Forex trading session, as the traders reacted on the hawkish commentary by the Federal Reserve Bank of Kansas City President Thomas Hoenig.
The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks.
The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today.
The U.S. dollar gained against the euro today on Forex market for a third day in a row, as the yesterday’s U.S. fundamental data reassured traders that the Federal Reserve will keep the interest rate unchanged on its next week meeting.
Euro reached a new historical maximum against the U.S. dollar today after another European Central Bank official stated that the bank will be acting thoroughly in order to keep the consumer price inflation rate down.