FOREX TradingCharts.com

Forex News: U.S. Dollar Climbs To Highest Levels In A

U.S. Dollar Climbs To Highest Levels In A Year

09/29/2021 - 16:36:00 (RTTNews)

(RTTNews) - The value of the U.S. dollar has shown a significant move to the upside over the course of trading on Wednesday.

The U.S. dollar index has advanced by 0.64 points or 0.7 percent to 94.40 after reaching its highest intraday level in a year.

The greenback is trading at 111.98 yen compared to the 111.50 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.1595 compared to yesterday's $1.1683.

The strength in the value of the U.S. dollar comes as traders continue to digest indications the Federal Reserve plans to begin scaling back its asset purchases in the near future.

The dollar saw further upside as after Federal Reserve Chair Jerome Powell warned inflation could be held up longer than previously thought due to supply chain problems.

"The current inflation spike is really a consequence of supply constraints meeting very strong demand, and that is all associated with the reopening of the economy, which is a process that will have a beginning, a middle and an end," Powell said during a virtual forum with other central bank leaders

"We see those things resolving," he added but noted, "It's very difficult to say how big those effects will be in the meantime or how long they will last."

On the U.S. economic front, the National Association of Realtors released a report showing pending home sales skyrocketed by much more than expected in the month of August.

NAR said its pending home sales soared by 8.1 percent to 119.5 in August after tumbling by 2.0 percent to a revised 110.5 in July.

Economists had expected pending home sales to jump by 1.4 percent compared to the 1.8 percent slump originally reported for the previous month.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

The pending home sales index reached its highest level since January but was still down by 8.3 percent compared to the same month a year ago.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Slightly Recovers After U.K. Composite PMI Data (01 min(s), 49 sec(s) ago)
(RTTNews) - UK Markit/CIPS composite PMI data has been published at 4.30 am ET Friday. The pound r ...Full Story»

Pound Mixed Ahead Of U.K. Composite PMI Data (10 min(s), 49 sec(s) ago)
(RTTNews) - UK Markit/CIPS composite PMI data is due at 4.30 am ET Friday. Ahead of the data, the ...Full Story»

Australian, New Zealand Dollars Rise Amid Evergrande's Bond Payment (22 min(s), 49 sec(s) ago)
(RTTNews) - The Australian and New Zealand dollars climbed against their major counterparts in the ...Full Story»

Pound Little Changed After U.K. Retail Sales Data (02 hr(s), 31 min(s), 49 sec(s) ago)
(RTTNews) - At 2.00 am ET Friday, the Office for National Statistics has released UK retail sales ...Full Story»

Pound Steady Ahead Of UK Retail Sales Data (02 hr(s), 40 min(s), 49 sec(s) ago)
(RTTNews) - At 2.00 am ET Friday, the Office for National Statistics releases UK retail sales data ...Full Story»

Indian Rupee Advances To Nearly 2-week High Against U.S. Dollar (34 min(s), 11 sec(s) ago)
(RTTNews) - The Indian rupee rose against the U.S. dollar in evening deals on Wednesday, amid fall ...Full Story»

Euro Little Changed After Eurozone CPI (28 min(s), 11 sec(s) ago)
(RTTNews) - At 5.00 am ET Wednesday, Eurostat has released euro area final consumer prices for Sep ...Full Story»

Euro Retreats Ahead Of Eurozone CPI (16 min(s), 11 sec(s) ago)
(RTTNews) - At 5.00 am ET Wednesday, Eurostat is slated to issue euro area final consumer prices f ...Full Story»

Search

FOREX NEWS

Pound Slightly Recovers After U.K. Composite PMI Data

10/22/2021 - 04:41 AM (RTTNews)
(RTTNews) - UK Markit/CIPS composite PMI data has been published at 4.30 am ET Friday. The pound r ...Full Story>>

Pound Mixed Ahead Of U.K. Composite PMI Data

10/22/2021 - 04:31 AM (RTTNews)
(RTTNews) - UK Markit/CIPS composite PMI data is due at 4.30 am ET Friday. Ahead of the data, the ...Full Story>>

Australian, New Zealand Dollars Rise Amid Evergrande's Bond Payment

10/22/2021 - 04:21 AM (RTTNews)
(RTTNews) - The Australian and New Zealand dollars climbed against their major counterparts in the ...Full Story>>

Pound Little Changed After U.K. Retail Sales Data

10/22/2021 - 02:09 AM (RTTNews)
(RTTNews) - At 2.00 am ET Friday, the Office for National Statistics has released UK retail sales ...Full Story>>

Pound Steady Ahead Of UK Retail Sales Data

10/22/2021 - 02:00 AM (RTTNews)
(RTTNews) - At 2.00 am ET Friday, the Office for National Statistics releases UK retail sales data ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.