The dollar strengthened its positions amid positive economic reports. According to the latest Fed comments, the US regulator may raise the rates at its meeting in June. In economic news, the United States published Initial Jobless Claims number (268K vs. forecast 275K).
The Eurozone agreement with Greece supported the euro. Greece reached an agreement with its creditors and shall receive a new tranche of loans (10 billion euro).
The second GDP estimate for the first quarter in the UK confirmed that the British economic recovery slowed down. The economy grew by 0,4% in the first quarter from 0,6% in Q4 2015. The British economy faced problems with a weakened growth in emerging markets, especially in China. The upcoming referendum slowed the growth as well.
The dollar remains near in a range waiting for J. Yellen’s speech. The market expects clues from the regulator regarding the possible rate hike in June. The yen grew and deprived the dollar from its latest gains. The Japanese currency growth forced investors to close positions before any potential risk event.Publication source