News Column

US Dollar Extends Rally Vs Majors; S&P/Case-Shiller Home Price Index Due

July 29, 2014

CANBERA (Alliance News) - The US dollar continued its early rally against the other major currencies in European deals on Tuesday.

The greenback climbed to near a 6-month high of 0.9056 against the franc and an 8-1/2-month high of 1.3417 versus the euro, off early lows of 0.9036 and 1.3443,respectively.

The greenback bounced off from its prior lows of 1.6994 against the pound and 101.81 against the yen and advanced to a 6-week high of 1.6942 and a new 3-week high of 102.11, respectively.

The greenback advanced to near a 6-week high of 1.0826 versus the loonie, from an early low of 1.0795. The greenback also rallied to a 7-week high of 0.8505 against the kiwi and a 6-day high of 0.9380 against the aussie, after falling to 0.8556 and a 4-day low of 0.9415, respectively earlier.

The next possible upside target for the greenback is seen around 0.91 against the franc, 1.33 against the euro, 1.68 against the pound, 103.00 against the yen, 0.93 against the aussie, 0.845 against the kiwi and 1.09 against the loonie.

At 9:00 am ET, the US S&P/Case-Shiller home price index for May is due. The index is seen at 10% on year in May, after recording a 10.8% advance a month earlier.

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Source: Alliance News

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