Greenback regains some ground

23 September, 2016

Greenback regains some ground

On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision.

The currency pair EUR/USD dropped 0.08%, trading at 1.1198.

The US dollar had sagged broadly after on Wednesday, the Fed made up its mind to leave interest rates intact and dropped a hint at a less aggressive hike in interest rates in 2017 and 2018.

However, the American major bank indicated that it could tighten monetary policy before the end of 2016 if the job market keeps improving.

The greenback gained some support after on Thursday, the US Department of Labor announced that initial jobless claims edged down by 8,000 the previous week to 252,000, which is the lowest outcome since July.

The currency pair GBP/USD slumped 0.28%, trading at 1.3038.

Meanwhile, USD/JPY ascended 0.17%, hitting 100.92, thus easing off Thursday’s one-month minimum of 100.06.


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