The US dollar rose against major currencies on Wednesday, especially after the euro’s gains stopped, after climbing to a three-year record high overnight, amid speculation of the ECB planning on cutting stimulus this year.<\/p>\n
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The dollar index, which measures the strength of the US currency against six major rivals, rose by 0.28% trading at 90.48 points. The index hit its lowest level in three years at 89.98 in one night.<\/p>\n
EUR\/USD fell by 0.31%, trading at $1.2222 per euro, after rising to 1.2323, its highest since December 2014. The European currency was more stable after the ECB\u2019s minutes of meeting for the last week of December showed that officials were considering a gradual shift in policy guidance earlier this year.<\/p>\n
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Investors are likely to see any changes in the ECB’s guidance as an indication that policymakers are preparing to cut the bond buying stimulus program. The euro fell to a low of 1.2194 on Tuesday, after a report showed that the ECB was unlikely to succeed in its pledge to keep buying bonds at its upcoming meeting next week.<\/p>\n
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The greenback was up against the yen, with USD\/JPY rising by 0.31%, to trade at 110.79 yen per dollar, recovering from a four-month low of 110.18. USD\/GBP was down 0.22%, and traded at $1.3761 per pound after rising earlier this week to 1.3835, the highest level since the Brexit in June 2016.<\/p>\n
The Australian and New Zealand dollars were fairly lower against the USD, with the AUD\/USD trading at 0.7945, and the NZD\/USD fell by 0.37%, hitting 0.7241.<\/p>\n
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The Canadian dollar was slightly lower against the USD, with the USD \/ CAD rising 0.16% to hit 1.2453 ahead of the Bank of Canada monetary policy decision later in the day, which was widely expected to raise interest rates from 1% to 1.25%.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US dollar rose against major currencies on Wednesday, especially after the euro’s gains stopped, after climbing to a three-year record high overnight, amid speculation of the ECB planning on cutting stimulus this year. […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[28,27,52,50,77,51,11,25,26,29,37,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/277"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=277"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/277\/revisions"}],"predecessor-version":[{"id":279,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/277\/revisions\/279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/278"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}