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USD fought back yesterday to make gains – Investec

FXStreet (Barcelona) - The Investec Research Team share yesterday’s key highlights for the FX markets, and notes USD to remain the ultimate winner against the majors.

Key Quotes

“The US Dollar fought back yesterday afternoon to make gains against the majors after the Federal Reserve Bank of Philadelphia's index of general business activity rocketed to 40.8 in November, its highest in almost 21 years. The index was at 20.7 in October.”

“The US Dollar had lost ground in the morning after stronger-than-expected UK Retail Sales saw the Pound try to push higher again. In addition, consumer prices in the US were unchanged in October from a month earlier, the latest sign of weak inflation amid a decline in energy prices and slow growth abroad.“

“US stock markets roll on regardless, the S&P 500 made its 44th record close this year while the Dow Jones Industrial logged its 27th record close in 2014.”

“Overnight the Japanese Yen strengthened from its weakest point in 7 years against the greenback after Japan's Finance Minister Aso expressed his concerns over rapid falls in the nation's currency. Mr Aso said "the pace of the decline in the past week has been too fast" and sharp swings in the exchange rate are undesirable.”

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