Dollar climbs strongly after the initial losses in the Inflation Report

Dollar climbs strongly after the initial losses in the Inflation Report

23-05-2015 01:35 PM

Dollar climbs strongly after the initial losses in the Inflation ReportThe dollar rebounded from initial losses and rose strongly after the report of inflation in the United States pointed to growing price pressures, which supports the US central bank position to raise interest rates later this year. The dollar received further support at a later time when Janet said Yellin Chairperson of the Board Federal Reserve that she believed that the central bank will begin this year, a gradual process of raising interest rates with the trend of world’s largest economy to recovery after slowing in the first quarter of the year and reverse the adverse factors at home and abroad. The euro fell during the session 0.99 percent to $ 1.10025, its lowest level since April 29 before recovering slightly to $ 1.1015 in late New York trade and ending the week on a loss of 3.80 percent in its worst weekly performance since September 2011. Against the Japanese currency the dollar rose 0.42 percent to 121.53 yen, its highest level in ten weeks To end the week on a gain of 1.95 percent in the best weekly performance since early October.

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