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Sunday 15 January 2017

Comments from Fed officials reduced the depreciation of the dollar

The dollar managed to recover some of its lost positions, supported by the comments of some members of the Fed. On Friday morning the dollar fell more than one percent.
Kaplan and Harker, two presidents of the Fed expect the central bank to raise interest rate three times this year. Meanwhile, Evans believes that the US central bank will raise interest rates twice this year. A positive signal came from the data on applications for unemployment. For the week ending on January 7 their number is 247 000. The expectations of analysts were for 258,000.
Despite the positive news the dollar failed to get out of negative territory and finished the day with a decline. The dollar index slid by 0.4 percent to 101.19 points.

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