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May 16, 2021

The U.S Dollar index gained 0.3 percent versus a basket of six major currencies on Friday to end the session in the green.

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The US Dollar rose versus a basket of major currencies on Friday, as the U.S. Federal Reserve kept interest rates steady but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December 2018.

The U.S Dollar index gained 0.3 percent versus a basket of six major currencies on Friday to end the session at 96.76 due to the robust of the United States economy.

Over in Europe, EURUSD fell by 0.25 percent for the second session in a row to close the session at 1.13334. The currency was pressured by a strong U.S. economy and as the Fed kept interest rates steady.

Over in the United Kingdom, the Sterling extended its losses on Friday’s session as Brexit deal optimism faded away and after Jo Johnson resigned from Prime Minister Theresa May’s government regarding her Brexit plans. The GBPUSD fell by 0.71 percent versus the U.S. Dollar to trade at 1.29686 at the close.

In terms of Safe-havens, both the Swiss Franc and the Japanese Yen advanced against the U.S. Dollar. The USDCHF and USDJPY ended Friday’s trading session down at 1.00527 and 113.787 respectively.

Precious metal Gold fell again on Friday for the sixth session in a row pressured by a stronger Dollar. The Gold dropped against Greenback by around 1.14 percent to end the settle down at 1209.65 on Friday.

In terms of commodity-currencies, the Loonie Dollar fell against the U.S. Dollar for the second session in a row as oil prices continue to decline. The USDCAD rose to a two-month high to end the session on Friday at 1.32090.

Meanwhile, in Asia, the AUDUSD fell by 0.45 percent to trade at 0.72211 and the NZDUSD lost 0.23 percent to trade at 0.67347 at the close.

In Cryptocurrencies, Bitcoin, Ethereum and Litecoin were trading lower versus the Greenback on Friday to settle at 6301.91 BTCUSD, 205.36 ETHUSD, and 49.58 LTCUSD.

Ali Hwary

Ali Hwary

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