The US currency continued its winning streak - the dollar index basket (USDX) closed the trading day at the mark of 97.60. The pair EUR / USD had decreased amid the Germany and Spain inflation slowdown last Friday.
During the day the pair GBP / USD was trading in a flat amid the UK bond yields moderate growth relative to its US and Germany counterparts.
The pair USD / JPY increased amid the "risky assets" demand at the end of the last week.
The last week US second quarter GDP data came out slightly worse than the consensus forecast, but we can consider it moderately positive. The personal consumption expenditures main index for the second quarter increased by 1.8% which exceeded the traders’ expectations. The Fed uses namely this indicator as the consumer activity benchmark.
In general, the US dollar continues to behave as if the Fed’s rate hike is actually a solution. We should remind that the Fed noted the labor market improvement, but it was not more aggressive than expected when it came to the Fed's rate hike timing.Publication source