The dollar rose for the fifth consecutive day against most currencies before the important data today from US gross domestic product and the sale of new homes. The US currency rose to a 5-year high after Standard & Poor`s increased its forecast for gross domestic product in 2015, and a decrease in the price of oil. “We are in a period when the Federal Reserve begins to raise interest rates in the near future we will see a strong dollar against most major world currencies” shared by UBS Wealth Management
The yen weakened 0.1% against the dollar during the Asian session and reached 120.13 JPY per dollar and against the euro, the Japanese currency was trading at 146.92 yen per euro. The trend for the currency remains downward due to the fact that the Bank of Japan announced that it will continue its policy to increase the incentives to reach The desired inflation of 2% .In Japan today the banking sector will not work.
The euro traded 0.1% of two-year low against the upcoming elections in Greece and expectations for new quantitative easing by the central bank. If Greece elections fail again this will lead to the need for new elections and increasing uncertainty in the country. Better data today GDP of France can lead to appreciation of the single currency.