US dollar retains moderate advances on bullish data
June 12, 2015 8:11 am
The US dollar held on to its modest gains on Friday, gliding higher on new evidence the US economy was recuperating.
US retail sales rose 1.2% in May, which indicates the economy was gaining momentum following a chilly start to the year.
Against the Japanese yen, the greenback traded at ¥123.56 from ¥122.46. The dollar closed at $1.1242 per euro from $1.1387.
Many market participants are enduring a difficult 2nd quarter. With next week’s FOMC meeting, there might be some hesitance “to rebuild long positions in the USD or short positions in front-end rates,” according to analysts at BNP Paribas.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar held on to its modest gains on Friday, gliding higher on new evidence the US economy was recuperating.
US retail sales rose 1.2% in May, which indicates the economy was gaining momentum following a chilly start to the year.
Against the Japanese yen, the greenback traded at ¥123.56 from ¥122.46. The dollar closed at $1.1242 per euro from $1.1387.
Many market participants are enduring a difficult 2nd quarter. With next week’s FOMC meeting, there might be some hesitance “to rebuild long positions in the USD or short positions in front-end rates,” according to analysts at BNP Paribas.
The material has been provided by InstaForex Company – www.instaforex.com
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