The dollar is rising against foreign currencies up to a maximum of seven months

The dollar is rising against foreign currencies up to a maximum of seven months


As at 07.59 GMT the dollar index grew by 0.2% to 99,58 points, the highest level in the past 7 months. Bidders waiting for new data from the United States to assess the reality of the prospects for a December rate hike by the fed.

MOSCOW, Nov 17. The dollar on Tuesday demonstrates a positive trend towards most major foreign currencies, trading in the region of the maximum marks for 7 months, as investors turned their attention from concerns after the terrorist attacks in Paris on the prospects for a base rate increase by the fed, according to AFP.

As at 07.59 GMT the dollar index (the dollar against a basket of currencies of six major U.S. trading partners) grew by 0.2% to 99,58 point, which is the highest mark for the last 7 months. The dollar against the yen rose to 123,39 yen per dollar with 123,18 yen per dollar at the previous closing. The Euro-dollar exchange rate decreased to 1,0663 with 1,0686 dollar dollar per Euro a day earlier.

Bidders await the publication of new macroeconomic data from the US this week to assess the reality of the prospects for a December rate hike by the fed.

“At the moment it seems that the fed really will start the cycle of monetary policy tightening that will strongly contrast with the policies of other global Central banks. It can provide long-term support for the dollar”, — said the Agency Bloomberg strategist at Westpac Banking cello Sean (Sean Callow).