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COVERFOREXNEWSLETTER

Dollar Strengthens Against Basket of Currencies

Dollar

The United States of America Dollar, on Monday, October 16, saw healthy rally against major rivals at the world currency market.

The dollar index, which measures the greenback against a basket of currencies, was 0.2 percent higher at 93.244 .DXY.

Meanwhile, the British Pound Sterling appreciated on Monday, October 16, as investors bet that economic data this week would put the Bank of England on track for a rate rise by the end of the year.

The euro took a knock for the third straight day on the uncertainty, falling 0.3 percent to $1.1787 EUR=EBS.

Japan’s Nikkei .N225 climbed for a sixth day to a level not seen since November 1996. Australian shares extended their winning streak to a fourth straight session to rise 0.6 percent, while South Korea’s stock index .KS11 set a new record.

 

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