Dollar Index Steady at Six-Week High on Fed Taper Prospects

The dollar index is close to a six-week high. The Euro is now under pressure. Some U.S. data has predicted that the Federal reserve will be trimming its stimulus this month. Some people are reportedly looking to the dollar’s safety in the wake of news about a possible war and the situation in Syria. High treasury yields have supported United States money. The dollar index has been a consistent 82.368 and got to its highest level on Tuesday at 82.516. That’s the highest it’s been since July. Construction has been on the rise and the sector of manufacturing has grown. This information supports the idea that the value of the dollar is high right now.

Data is important to the value of American money, as good economic data has helped to establish, track, and understand the current value of the dollar. In contrast, the Euro is relatively low and is now in the lowest it’s been since July. However, some companies that use the Euro have been doing well, so that trend might not last for long. Certain situations, like the issues in Syria could have an unpredictable effect on the current value of United States currency, so caution is being used.

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