The American currency traded lower by 0.5 percent in yesterday’s trading session owing to the disappointing release of pending home sales and personal spending data from the nation. M oreover, recent strength in the currency prompted the traders to book profits.
Robust release of GDP data and consumer confidence data from the nation calmed the markets and prompted the traders’ to place risky assets thereby denting the demand for safe haven DX. Furthermore, investors believe that given the latest event that has caused jitters and uncertainty in the markets, the US Feds ambitions for two rate rises this year may be placed on hold.
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