Today the U.S. dollar continued to head for its second monthly gain against such currencies as the euro and the Japanese yen as the countrys economical situation showed some improvement over the recent weeks.
The second month of growth against the yen can be attributed to both carry trade uprise that has been seen during the last weeks on Forex and the expectations for the Federal Reserve to rise rates early next year if not sooner.
This month dollar gained slightly less than the previous month against euro and yen, but it also rose against the Great Britain pound as the housing crisis went worse in U.K. Even carry trade positions failed to support GBP/USD pair.
Eurozone posted some not so good economic indicators this month, but at the same time consumer inflation has been rising too. As the ECB is facing a hard decision choice, U.S. dollar can gain from somewhat more definite position of the Fed.
EUR/USD fell this month from 1.5618 to 1.5539, while the currency pair is slightly growing today after moderate U.S. statistics releases. USD/jPY rose this month from 103.95 to 105.44 and today the currency pair is going dow slightly for the same reason that makes EUR/USD to go up now.
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