Greenback Surging, Euro Losing

Forex News

The greenback kept on rising against while the single currency weakened. The U.S. dollar index grew 0.25% to 94.04. EUR/USD dropped 0.27% to trade at 1.1719 after hitting the minimum of 1.1691. USD/JPY increased 0.33% to 111.19. GBP/USD was up 0.11% to 1.3273.

Meanwhile, German investor confidence declined to its 6-year minimum of -24.7 from -16.1 in June amid concerns over Donald Trump’s protectionist policy. Some positive data came out of UK, where GDP pointed that the economy improved from 0.2% to 0.3% in May, raising chances for August rate hike. EUR/GBP dropped 0.44% to 0.8823.