USD Reaches Near Two-Week Highs Against Major Currencies
- Trade Magnates Team
- Oct 24, 2017
- 1 min read
The dollar was trading near two-week highs against the other major currencies on Tuesday as speculation over who will be the next the chairman of the Federal Reserve continued.
President Trump told reporters yesterday that he is very close to decide as to who should be the next head of Federal Reserve.
Furthermore, the US Dollar is bouncing across the majors prior to the US flash manufacturing report, which is forecasted to show a strong reading for October.
USDCAD reaches two-week high being the best performer amongst commodity currencies. The pair is trading higher on renewed oil price weakness as investors are keeping an eye on the weekly U.S. crude inventory report that will be published later today. EURUSD is trading at 1.1760, USDJPY at around 113.70 and GBPUSD at 1.3187.