The Dollar Rises Before The Release of US Data

The dollar rose today as traders awaited a batch of US economic data that may determine the direction at the central bank meetings later this month.

Investors are betting that the dollar will fall as the world recovers from the Covid-19 pandemic, but they have recently become concerned about whether the sudden strong economic recovery in the United States poses a threat to the assumption that interest rates will remain low for a long time.

Against the euro, the dollar rose 0.2% to $1.2187, and it rose against the Australian and New Zealand dollars.

Against the Japanese yen, it rose 0.2% to 109.78 yen.

The dollar index, which measures the performance of the US currency against a basket of six currencies, rose to 90.112. It received strong support around the 89.946 level in recent sessions, after falling by 2% in April and another 1.6 percent in May.

The pound rose 0.1% against the dollar today to $ 1.4180, with investors slightly concerned about whether the spread of a new strain of the virus in Britain could delay plans to reopen the economy.

And cryptocurrencies gained with an advance in the latest trading to 39,324 dollars, and Ethereum rose six percent today to 2879 dollars.