The U.S. dollar remained stable close to its highest level in four months on early Tuesday. Investors are currently awaiting U.S. non-farm payrolls report and the Fed’s policy decision regarding interest rate. Both due for today.
The U.S. dollar index closed at 91.805. On its previous trade, the index rose to a four-month high of 91.805. For the whole month of April, the greenback edged up by 2 percent. It gained much strength after the U.S. 10-year Treasury yields jumped to as high as 3.0 percent. As to other currencies, the euro and the British pound kept flat at $1.2079 and $1.3771 respectively.
The U.S. Federal Reserve concluded its meeting on Wednesday. Investors are keeping an eye on signs for a possible interest rate hike this June. They are also waiting for the U.S. employment data for April as it will give indication of the nation’s economic health.
Oil went higher on account of the remarks issued by the Israeli Prime Minister, Benjamin Netanyahu. He expressed strong hope that Trump would do the right thing and withdraw from nuclear agreement with Iran. Netanyahu also said that Israel had evidence that Iran lied about its nuclear program. Iran just called these accusations a “propaganda”.
Brent crude futures added 11 cents to settle at $74.80 per barrel for July delivery. U.S. West Texas Intermediate (WTI) crude prices have risen more than 0.2 percent or 11 cents to $68.68 per barrel.