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Friday 17 February 2017

The dollar almost repeated the record from 1975

Thanks to the publication of strong data on US inflation and quite aggressive tone of Janet Yellen in a speech to Congress, the market's assessment of the likelyhood for raise rates at the meeting of the FOMC in March rose by 25% to 40%, say analysts.

Against this background, the US currency has enjoyed good demand and fairly sharp turnaround in the second half of the trading session on Thursday, which did not allow the dollar to repeat the record from July to September 1975, when it grew 11 consecutive days between July to September 1975.

If recent sessions were completed with growth, this could be the second longest rally ever for the US currency, analysts say.


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