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US currency keeps down, positive data can’t push it up

The US currency dipped on Thursday, after a slight rise overnight, keeping close to the worst level in 3 months, while positive US figures and minutes from the Fed can do nothing to push it up.

The dollar index that weighs up the currency against six other, slid to the minimum mark since late September two days ago, as promising outlook in relation to the economic situation in the euro zone sent the major European currency over $1.20, the first such case in more than 3 months.

Yesterday the US dollar had a modicum of recovery, following upbeat data on production and construction. The latest minutes from the Federal Reserve helped it grow some more, when policymakers gave a sign that the Fed is set to hike interest rates more than once in 2018.

The euro had inched down in Asia during early trading, falling to $1.2005, though soon it got back up to $1.2029, resulting in 0.1% growth.

US pay figures expected tomorrow could play a decisive role in the trajectory the dollar will take, said Esther Reichelt of Germany’s Commerzbank.

During the Fed’s meeting in mid-December, officials recognized convincing advances in the US labour market and the growth in economic activity, although continued low inflation caused concerns.

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