Friday, March 25, 2016

Dollar on track for 1% weekly gain; sterling went down 2.4%
Today, Dollar was on trailled for a weekly gain of over 1 per-cent against a basket of currencies after a chorus of US Fed Reserve officials indicated more interest rate increases than the market had been pricing in.

The latest was St. Louis Fed President James Bullard, who told in reports on yesterday that another US(United States) interest rate increase "may not be far off" & noted labour market improvement.

The dollar index, which tracks the greenback against a basket of six rival currencies, added about 0.2 per-cent to 96.285. It was assured to increase by 1.3 per-cent for the week, its first such gain this month.

The US dollar edged up 0.1 per-cent as compared to yen to 113.04 . It went up by 1.3 per-cent for the week and well above previous week's 17-month low of 110.67 yen.
The euro slipped by 0.1 per-cent to $1.1162, below last week's one-month peak of $1.1342. It was on track to lose by 0.9 per-cent in a week marred by attacks on Brussels for which Islamic State claimed responsibility.

Sterling went last down 0.3 per-cent at $1.4113, on track for a 2.5 per-cent loss on the week.

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