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    U.S. Dollar Gains against Major Currencies; EURUSD Fell to 1.1470, GBPUSD Fell to 1.4460

    (May 4 Wednesday) The U.S. dollar gains against the major currencies following the encouraging comments yesterday from the Atlanta's Fed President Dennis Lockhart who said that a June interest rate rise is a "real option," and from the San Francisco's Fed President John Williams who said that he would support the move at the next FOMC meeting  in June provided that the U.S. economy stayed on track.

    The U.S. Dollar Index gains versus the basket of 6 major currencies and displayed a resilient rebound today from the low of 92.40 to 93.27 ( 0.87 cents) halting its one-week decline from 94.80 last April 26. The dollar is also gaining support from the upbeat forecast of the U.S. April employment report which is expected to gain 200,000 jobs compared to 215,000 in March.

    On the intraday chart, the euro fell from 1.1590 to 1.1470 (-120 pips) versus the U.S. dollar. Sterling fell from 1.4690 to 1.4460 (-230 pips) while the dollar gained against the yen and rose to 107.40 from 105.70 ( 170 pips).

     

     


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