- The US dollar index maintains its position after registering profits of more than half percent in the previous session.
- The US Consumer Trust Index rose to 98.0 in May from an earlier reading of 86.0.
- The dollar was appreciated as US yields fell for possible Japan cuts in government debt emission.
The American dollar index (DXY), which measures the value of the US dollar (USD) compared to six main currencies, is stabilizing after registering profits of more than 0.50% in the previous session. The DXY is negotiating around 99.60 during the European hours on Wednesday. Operators expect the FOMC minutes that will be published later in the American session.
The US dollar is gaining support in the midst of the growing optimism among US consumers after the increase in the consumer conference index of the Board Conference to 98.0 in May from the previous reading of 86.0. In addition, the appearance of optimism in the bond market is supporting the dollar, driven by Japan’s plans for possible cuts in government debt emission.
Additionally, the dollar received support as US yields fell, driven by pressure on global yields after Japan’s indication of possible cuts in government debt issuance, which has promoted global bond markets. On Monday, the Japan Ministry of Finance requested comments from the market participants about bond issuance and the current market situation, according to Bloomberg. The Japanese government could be worried since long -term yields shot, with the performance of 20 -year bonds reaching historical maximums last week.
The president of the Bank of the Federal Reserve of New York, John Williams, emphasized the importance of inflation expectations being well anchored. Williams wants to prevent inflation from becoming highly persistent because that could become permanent when responding relatively strong when inflation begins to deviate from the target. On Tuesday, the president of the Fed of Minneapolis, Neel Kashkari, said that those responsible for the policy should avoid any adjustment in interest rates until clear estimates of the impact on inflation due to the highest tariffs.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. US dollar was the strongest currency against the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.09% | 0.03% | -0.12% | 0.10% | -0.00% | -0.34% | 0.00% | |
| EUR | -0.09% | -0.03% | -0.16% | 0.01% | -0.08% | -0.39% | -0.04% | |
| GBP | -0.03% | 0.03% | -0.12% | 0.09% | -0.03% | -0.03% | 0.00% | |
| JPY | 0.12% | 0.16% | 0.12% | 0.20% | 0.10% | -0.20% | 0.20% | |
| CAD | -0.10% | -0.01% | -0.09% | -0.20% | -0.09% | -0.39% | -0.09% | |
| Aud | 0.00% | 0.08% | 0.03% | -0.10% | 0.09% | 0.02% | 0.04% | |
| NZD | 0.34% | 0.39% | 0.03% | 0.20% | 0.39% | -0.02% | 0.02% | |
| CHF | -0.00% | 0.04% | -0.00% | -0.20% | 0.09% | -0.04% | -0.02% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
