Dollar Rebounds, Positive US Indicators Ease Pressure
The US dollar strengthened modestly on Wednesday (April 15th) after a number of US economic indicators delivered positive surprises, while markets continued to monitor geopolitical developments in the Middle East. The dollar's gains were supported by data showing a lower-than-expected increase in import prices and improved manufacturing activity in New York State.
Goldman Sachs noted that bullish bets on the dollar, which were strong at the start of the year, have now largely been unwound, with the dollar's tactical position returning to near neutral levels in recent days. However, the WSJ Dollar Index and the DXY both edged higher and are on track to break their seven-day losing streak.
In major markets, the dollar rose around 0.2% against the yen and Swiss franc, and strengthened 0.1% versus the euro. Market participants' focus now remains on the combination of upcoming US data and Middle East headlines, which could quickly shift the direction of safe-haven demand. (Arl)*
Source: Newsmaker.id