Underpinned by a better-than-expected US growth reading as well as an upbeat Chicago PMI, the US dollar index advanced to a high of 96.28 Thursday, registering its second consecutive daily gain.
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MetaTrader 4 Platform Update
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Thursday 28th February: Month-late US GDP data eyed in early US hours.
The value of the euro weakened against its US counterpart Wednesday, snapping a two-day bullish phase. A revival of USD bidding, driven by advancing US Treasury yields, weighed on the EUR/USD.
Wednesday 27th February: Canadian inflation eyed in early US trade – remain vigilant.
Pressured by declining US Treasury yields, the US dollar Index (calculated by factoring in the exchange rates of six major world currencies) extended losses Tuesday, shaking hands with its lowest level in three weeks at 95.95.
Tuesday 26th February: Fed Chair Powell testifies in early US hours – remain vigilant around this time, traders.
Sterling marginally breached 1.31 to the upside Monday and tested February’s opening level plotted nearby at 1.3108 (H4), following news UK Labour would support a second referendum should the Brexit deal be rejected this week.