The U.S. dollar rose versus the majority of its major competitors and Tuesday and the dollar index rose to a 22-month high, with positive outcomes and an unexpected dive in brand-new house sales setting off the go up north.
The sharp jump in petroleum prices following the U.S. federal government’s decision to stop giving sanctions waivers to significant importers of Iranian oil contributed too the greenback’s gains.
Traders now look ahead to the U.S. GDP information for the January-March 2019 quarter, due on Friday.
The dollar index rose to its finest level since June 2017, as it climbed to 97.79.
Versus the Swiss franc, the dollar got about 0.43% at 1.0202, and versus the Aussie, it was up by about 0.5% at 0.7099.
The euro shed about 0.3% at $1.1190, while the British Pound Sterling decreased about 0.4% to $1.2940 due to issues over Brexit.
The Japanese yen, thought about another safe house, handled to eke out a small gain, edging approximately 111.83 a dollar.
The Canadian dollar was trading at $1.3432 a dollar, compared to previous close of $1.3350, while the Swedish Krona was down 0.5% at 9.3543 a dollar.
The Commerce Department report said brand-new home sales rose up by 4.5% to an annual rate of 692,000 in March after skyrocketing by 5.9% to a modified rate of 662,000 in February.
The continued increase surprised economic experts, who had actually anticipated new house sales to stop by 2.5% to a rate of 650,000 from the 667,000 originally reported for the previous month.
With the unanticipated spike, new home sales reached their highest yearly rate since hitting 712,000 in November of 2017.
The material has been supplied by InstaForex Company – www.instaforex.com