Dollar Rebounds From Recent Weakness
2024-09-23
3222
(fxcue news) - The U.S. dollar climbed higher on Wednesday, rebounding from 14-month lows, as the Japanese currency weakened, and bond yields climbed up.
In U.S. economic news today, data from the Commerce Department showed new home sales pulled back sharply in the month of August, plunging by 4.7 percent to an annual rate of 716,000, after soaring by 10.3% to a revised rate of 751,000 in July.
Economists had expected new home sales to tumble by 5.3% to a rate of 700,000 from the 739,000 originally reported for the previous month.
Data on weekly jobless claims, durable goods orders and personal income and spending are due this week. Fed Chair Jerome Powell's speech on Thursday is also in focus.
The dollar index climbed to 100.99, gaining more than 0.5%.
Against the Euro, the dollar firmed to 1.1132 from 1.1181, and against Pound Sterling, it strengthened to 1.3322 from 1.3415, gaining about 0.7%.
The dollar climbed higher against the Japanese currency, fetching 144.80 yen a unit, up from 143.23 yen on Tuesday. Against the Aussie, the dollar firmed to 0.6822 from 0.6893.
The Swiss franc weakened against the greenback at CHF 0.8505. The Loonie eased to 1.3485 a unit of the U.S. currency, after settling at 1.3432 a U.S. dollar on Tuesday.
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