Friday, May 23, 2014

The dollar strengthened encouraged weak German data

The dollar rose against most other major currencies on Friday (Saturday morning GMT ) , and continued to rise against the euro after data showed German business confidence declined .

Business climate index from the Ifo research institute fell to 110.4 in May from 111.2 in the previous month , showed German business confidence fell more than expected and showed the country's economic growth may slow in the second quarter .

Positive U.S. housing data released on Friday also supported the dollar . Sales of new single-family homes in the U.S. in April stood at an annual rate of seasonally adjusted 433,000 , 6.4 percent above the revised March rate of 407,000 , the Commerce Department reported on Friday .

The Federal Reserve released the minutes of its meeting this week in April , in which he said the central bank is not " face exchange between the goals of job creation and inflation . "
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The Bank of Japan , Bank of Japan ( BoJ ) on Wednesday decided to maintain the current monetary policy after a two-day policy meeting . However , some analysts speculate the central bank to expand easing measures in July .

In late New York trading , the euro fell to 1.3632 dollars from 1.3651 dollars in the previous session , and the British pound fell to 1.6831 dollars from 1.6864 dollars . The Australian dollar rose to 1.9236 dollars from 0.9217 dollars .

The dollar bought 101.96 yen , from 101.80 yen higher in the previous session . The dollar rose to 0.8955 Swiss francs from 0.8948 Swiss francs , and move down to 1.0871 Canadian dollars from 1.0896 Canadian dollars , Reuters reported .


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