During Tuesday trade session US dollar expanded positions against most of its major peers, while markets lie in wait for Wednesday’s Federal Reserve minutes and testimony by Fed Chairman Ben Bernanke.
US dollar increased significantly its value against the British pound, as GBP/USD reached 1.5156 today after the release of UK consumer price and producer price data.
The Office for National Statistics (ONS) announced that annual consumer price index rose to 2.4% during April, slowing down in comparison with preceding period, when consumer inflation registered a 2.8% increase. This low inflation rate could be a prerequisite for Bank of England to take measures for economic recovery boost.
US dollar expanded against the euro currency as well, as EUR/USD pair recorded a decline from 1.2889 during early European session, to 1.2857 during late phase of the trade.
Positions were gained against the Swiss franc with USD/CHF rising to 0.9696.
Gains were registered versus Australian, New Zealand and Canadian counterparts, as AUD/USD slid to 0.9772, NZD/USD dropped to 0.8144 and USD/CAD rose to 1.0280.
The dollar index, which tracks the performance of US dollar against a basket of six major currencies, upped 0.34% to 84.19.
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