The dollar rises supported by unexpected US economic data

Mark
Written By Mark

The dollar rose today after strong data in the United States pushed US Treasury yields higher and reduced bets on a cut in interest rates.

The Japanese currency against the dollar approached the level of 158.42 yen, which is the weakest level in about six months, while in the latest trading it reached 158.19 yen.

The euro fell by about 0.5 percent overnight and was trading at about $1.0351 in Asian trading. The British pound also fell to $1.2478. The yuan reached a six-month low of 7.3319 against the dollar.

Data yesterday, Tuesday, showed an unexpected increase in job opportunities in the United States in November and a decrease in layoffs, while service sector activity accelerated in December.

Thanks to the data, the yield on standard 10-year US Treasury bonds rose by more than eight basis points, reaching an eight-month high of 4.699 percent.

The New Zealand dollar settled at $0.5634, and the Australian dollar reached 0.6228 against the dollar.