Dollar Surges to One-Month High Amid Mixed Economic Data
Following mixed U.K. economic data, the dollar has surged to its highest close since July 8 by 0.3 percent against the British pound. The WSJ Dollar Index has dropped to 0.3 percent with 86.63 while the dollar decreased against the Canadian dollar and the Japanese Yen.
A business survey from the U.K. has indicated that the like-for-like sales have grown by 1.1 percent in July however manufacturing data was lower-than-expected while trade gap is expanding. The dollar has prolonged declines against currencies of emerging markets which remain strong, implying that investors believe that the Fed will not raise rates in the upcoming term.
The dollar has reached its lowest level last seen in July 2015 when it was weak against the Brazilian real by 0.9 percent, down by 0.6 percent against the Mexican peso and fell by 1.1 percent against the South African rand.
News are provided byInstaForex.