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The dollar rose to a maximum of two months

The dollar rose to a maximum of two months

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Jim Anderson - Public Relations

On Friday, the dollar rose to a maximum of two months, continuing the trend of appreciation against the euro and the pound after unconvincing action by the European Central Bank and the new British Prime Minister on Thursday. During night trading, the US dollar index shows the dollar’s purchasing power against a trade-weighted basket of six major currencies rose to 97,627 and by 9:00 London time, it was kept close to this value. The appreciation of the dollar is contrary to intuition, given that data on US GDP growth for the second quarter, according to analysts, should show a sharp slowdown in growth – below 2% on an annualized basis.

In part, the appreciation of the dollar is associated with a decline in the major currencies. The shadow of the Brexit continues to put negative pressure on the pound and more and more on the euro after the first appeals by British Prime Minister Boris Johnson to the EU authorities were sharply rejected on Thursday. The pound was close to the lows for many years after two months ago, the prospect of “hard” Brexit under the leadership of Johnson became the most likely scenario.