US Dollar Stayed at 1-Month Maximum

Forex News

The US dollar remained stable against major currencies and was held at the highest level in a month. The American currency rose this week in response to comments from New York Fed President William Dudley. Politician said that tightening the situation on the US labor market will ignite inflation and this year another increase in the Fed’s rate is expected.

The British pound has significantly strengthened after the Bank of England’s chief economist Andy Haldane said that rate hike is expected this year.

Commodity-linked currencies, including the Canadian dollar, fell. This drop was caused by a decline in oil prices.