US Dollar index attained the highest level since last April as the price reached highs of 91.26 throughout Wednesday’s session. The USD’s rise seems to be motivated by 4-year highs in US 10 yr treasury yields.
The USD took the lead both against the euro and the JPY as interest rate differntials favoured the USD.
USDJPY swept higher to 109.45, while EURUSD marked lows of 1.2159 ahead of an ECB rate decision later today. No changes are being expected so far but it will now be intresting to see whether the ECB will attempt to talk down the euro given the concerns recently voiced by ECB officials with regards to level of the currency.
Later today we are also awaiting the customary weekly jobless claims, Advance Goods Trade Balance, and Durable Goods orders amongst others.
