US dollar expanded positions against its major peers during early European trade on Tuesday in expectation of crucial data from the United States.
The dollar index, which gauges US currency performance against a basket of six other major currencies, rose to 83.99, adding 0.1%, as speculations appeared that potentially good fundamentals from US, could encourage FED to scale back its bond purchasing program. US dollar increased by 1% versus Japanese yen to 101.99 and 0.1% versus the euro, as EUR/USD dipped to 1.2922.
The Conference Board’s index of consumer sentiment in United States is expected to rise to 71 during May, highest reading since November, from Aprils 68.1. Additionally, The S&P/Case-Shiller index of property values in 20 cities in US, also is projected to increase by 10.2% during March, improving compared to the 9.32% rise during preceding period.
The dollar has strengthened by 5.3% this year, the best performer among the 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes, the yen has dipped by 12%, while the euro has gained 2.9%.
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