US Dollar Retains Strength

FxPremiere.com – Forex Signal | The dollar remained strong in early European trading Thursday, near multi-month highs amid expectations of strong U.S. economic growth, helped by more fiscal stimulus and an accelerating vaccine rollout.

At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 93.312, having hit a five-month high of 93.472 earlier.

USD/JPY rose 0.1% to 110.78, having risen to as high as 110.97, its highest level in a year. GBP/USD was down 0.1% at 1.3759, while the risk-sensitive AUD/USD fell 0.7% to 0.7544.

Dollar gains put on hold

This increased optimism in the U.S. dollar is best reflected against the euro, with EUR/USD down 0.1% at 1.1723, not far off the near five-month low of 1.170 after ECB President Christine Lagarde’s dovish interview on Wednesday.

US Dollar Trades Steady

Dollar Retains Strength Amid Lockdowns

Elsewhere, USD/CNY rose 0.3% to 6.5715, after China released a disappointing Caixin Manufacturing PMI earlier in the day, reading 50.6 for March, the lowest level since April 2020, and a drop from February’s 50.9.

These findings contrast with those in an official survey, released Wednesday, which showed manufacturing activity grew at a stronger pace.

US Dollar Retains Strength

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