Dollar biggest gainer on the week

The dollar was the best performing major currency this week and is poised to make a weekly gain of over 1 percent against a basket of currencies. The greenback was given a lift after Federal Reserve officials who were speaking this week, mentioned that they supported more interest rate increases for this year.

USDJPY rose against the yen to 113.04 this morning and is up 1.3 percent for the week. It made quite a recovery from last week’s 17-month low of 110.67 yen.

EURUSD edged lower to $1.1162, on track to lose 0.9 percent in a week as the euro was hurt by the Brussels attacks this week.

Meanwhile, GBPUSD traded down to $1.4113 and is set to lose 2.5 percent on the week. The pound was one of the worst hit major currencies as a result of the events in Brussels. This is because the attacks will likely give a boost to Brexit and to the “leave” campaign – for those in favour of the UK leaving the EU.

The rest of the day will likely be quiet, with low trading volumes due to many key markets, including Australia, the UK and the United States, being closed to observe Good Friday. Some markets will be closed on Monday too.

The post Dollar biggest gainer on the week appeared first on FXTM Blog.

Source:: Dollar biggest gainer on the week