This was the clearest indication yet that Russia is serious about its plan to shift away from using the US dollar. Western sanctions against Russia have accelerated this process and encouraged Russia's close economic alliance with China.
�I would anticipate that the US dollar will continue to keep moving higher against currencies like the Aussie, yen and the euro, simply because money is starting to flow to the US dollar again after a period of nervousness and the data out of the US ...
Can't access the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **. US DOLLAR TECHNICAL ANALYSIS - Prices look to be resuming its long-term uptrend as prices break out of a Flag chart formation.
NEW YORK (Reuters) - The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro.
While you're pondering your global income investment allocation, bear in mind that the U.S. dollar is looking pretty good compared to other currencies - so good that Barclays today says the �building blocks are still in place for a sustained dollar rally.
The US dollar continued its rally on Wednesday, hovering near a four-year high against major currencies. In early trading, it rose over 110 yen for the first time in six years and was close to a two-year high against the euro at $1.25.
Traders have sold the US dollar against the British pound, euro and a host of other currencies in recent sessions as they come to the realisation that they have have been overly generous in their pricing to the first US interest rate rise.