22nd April 2014
The dollar has strengthened for a seventh successive forex trading session today (April 22nd), ahead of data expected to highlight further progress in the US economic recovery.
Yesterday, the Conference Board said its index of leading growth indicators increased by 0.8 per cent in March - the strongest advance since November.
In addition, the Federal Reserve of Richmond's factory index - which incorporates activity in North Carolina, South Carolina, the District of Columbia, Maryland, Virginia and the majority of West Virginia - is predicted to have risen to 2.0 this month, rebounding from the previous result of minus 7.0. The US dollar index approached its highest close in two weeks ahead of the release of the data.
Elsewhere, the euro has held onto a five-session rally against the Japanese yen ahead of the publication of a report expected to show eurozone consumer confidence steadied around a six-year high. The Australian dollar has rebounded from a two-week low before the country's consumer price figures are published tomorrow.
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