The dollar increased the most against the euro in almost two weeks as declining crude oil prices and
better-than-estimated earnings at Wells Fargo & Co. pushed U.S.
equities higher.
Federal Reserve Chairman Ben S. Bernanke reiterated in testimony before the
House Financial Services Committee in Washington
today that growth and inflation risks are increasing. FOMC’s minutes said the
same with Fed’s chairman.
U.S. consumer prices advanced 1.1% in June after rising 0.6% the prior month, the Labor Department
reported today in Washington.
It was the biggest increase since 2005. Production at factories, mines and
utilities rose 0.5% last month after dropping 0.2% in May, the Fed reported
today.
EUR/USD printed high on $1.5950
before it slid to $1.5813 and set stable on $1.5810/50.
GBP/USD failed to break above
$2.0100, spurring longs covering. It dragged the pound down to $1.9950.
USD/JPY rose from $103.70 to
Y105.00.
Attention today turns to US data,
including fresh figures from housing market. At 14:00 GMT Philly Fed’s index is
schedule to release.
At23:50 GMTBOJminuteswillbereleased.