Dollar climbs to support statements unrelenting US data

The dollar rose to its highest level in more than five weeks against the basket of major currencies after Janet said Yellin president of the Federal Reserve (the US central bank) it expects the bank to raise interest rates this year after data on US economic growth supports the apparently increasing interest.

The Yellin said in a speech late on Thursday that she and the members of the Monetary Policy Committee of the US central bank does not expect the global economic and financial developments significantly affect recently on the policy.

Comments and surprised analysts because the bank kept interest rates unchanged a week ago for reasons including concerns about the global economy.
The data showed the Ministry of Commerce on Friday, US GDP growth of 3.9 percent annual rate in the second quarter, up from 3.7 percent in the estimates announced last month.

The data supported the possibility that the US economy will be able to deal with the rate hike.

The dollar index - which measures the US currency's performance against major currencies - a basket to 96.700 after growth data, its highest level since 19 August. It headed the index to record weekly gain of about 1.4 percent in its best performance since mid-July.

Against the Japanese yen, which is considered a safe haven dollar hit its highest price in more than two weeks at 121.24 yen.

The US currency reached its highest level in more than six weeks against the Swiss franc at 0.9842 francs earlier in the session.

The euro was down in the latest trading 0.35 percent against the dollar to $ 1.1191.
The US currency rose in the latest trading 0.37 percent against the yen to 120.55 yen.
The dollar rose 0.47 percent against the franc to 0.97985 francs.

The dollar index in the latest trading 0.26 percent to 96.23.

09.27.2015

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