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Dollar remains strong

Friday’s US dollar remained strong against most of its major rivals, expanding its recent rise as traders awaited the next Federal Reserve Board’s monetary policy meeting.

After moving to 93.02, the dollar index, which fell to about 92.85, then recovered, last seen at 92.91, up almost 0.1% from Thursday’s closing price.

Against the euro, the dollar remained strong at 1.1756, then moderated its rise and fell to 1.1770, up slightly from the previous closing.According to a survey, the euro area business Activity expanded at the fastest monthly pace in more than 20 years in July, as the relaxation of containment measures boosted the service.

The pound sterling weakened against the dollar, gaining $ 1.3746 per unit compared to Thursday’s $ 1.3768. UK consumer sentiment was stronger than expected in July, with the index rising from -9 in June to -7 in the month. The expected reading was -8.

The IHS Markit / CIPS UK Flash Composite PMI fell from 62.2 in June to 57.7 in July, the lowest since March and sharper than most economists expected.

The dollar rose against the yen, rising from 110.15 to 110.55 yen.

Against Australia, the dollar rose to 0.7363, up about 0.22%. Australia’s service sector plunged into a shrinking territory in July. The latest Markit Economics survey found that Friday’s 14-month service PMI score was as low as 44.2. Significantly down from 56.8 in June

The Swiss franc was slightly weaker from $ 0.9196 and fell from 0.9190.

The Canadian dollar was $ 1.2568, down slightly from $ 1.2563. According to a tentative estimate by Statistics Canada, the relaxation of COVID-19 restrictions is expected to increase retail sales by 4.4% in June, supporting sentiment. Meanwhile, retail sales in May fell 2.1% month-on-month in May, below market expectations of 3%.

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Dollar remains strong

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