U.S. Dollar Advances Against Majors
March 30 2015 - 5:28AM
RTTF2
The U.S. dollar strengthened against the other major currencies
in the early European session on Monday, in the wake of Federal
Reserve chief Janet Yellen's remarks signalling that the Fed is
likely to start raising interest rates gradually later this
year.
In a speech at a San Francisco Fed conference on Friday, Federal
Reserve chief Janet Yellen said an interest rate hike may well be
warranted later this year but stressed that any increase in
interest rates would be gradual.
Athens is set to present a list of economic reform proposals to
international creditors today after Tsipras's earlier reform plans
met resistance from EU leaders.
Greece Prime Minister Alexis Tsipras said in remarks published
Sunday he is looking for a "happy ending" in his current talks with
EU creditors. "I am confident there will be a happy ending soon to
this first phase of the negotiations, and to normalizing the
situation," said Tsipras.
In the Asian trading, the U.S. dollar held steady against its
major rivals.
In the early European trading today, the U.S. dollar rose to a
5-day high of 119.68 against the yen, from an early low of 119.09.
The greenback may test resistance near the 121.00 region.
Pulling away from early lows of 1.0894 against the euro, 1.4900
the pound and 0.9603 against the Swiss franc, the greenback edged
up to 1.0825, 1.4801 and 0.9672, respectively. If the greenback
extends its uptrend, it is likely to find resistance around 1.06
against the euro, 1.46 against the pound and 1.00 against the Swiss
franc.
Against the Australia, the New Zealand and the Canadian dollars,
the greenback advanced to near 2-week highs of 0.7696, 0.7696 and
1.2649 from early lows of 0.7746, 0.7565 and 1.2594, respectively.
The greenback is likely to find resistance near 0.75 against the
aussie, 0.71 against the kiwi and 1.28 against the loonie.
Looking ahead, preliminary German consumer price index for
March, Canada industrial product price and raw materials price
index - both for February and U.S. personal income and spending
data and pending home sales data for February are slated for
release in the European session.
At 9:00 am ET, European Union's financial affairs chief Pierre
Moscovici is expected to speak to the EU parliament committee in
Brussels.
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