The dollar climbs

The dollar climbs

Since the beginning of the week, the dollar showed negative trading against other currencies but this Thursday, November 21, the reversal was done and the dollar rose against most major peers.

The euro declined against the dollar, it was worth $1.3430 against $1.3435 $ last night, also  the yen dropped against the greenback, the Dollar Yen  was at 100.72 yen against 100.03 on Wednesday.

Federal Reserve Chairman Ben Bernanke said on Tuesday the Fed will maintain ultra-easy U.S. monetary policy for as long as needed and will only begin to taper bond buying once it is assured that labor market improvements would continue.

This statement  come just a few days after Janet Yellen has dampened investors and claimed that the dollar  is less profitable and therefore less attractive.

St. Louis Federal Reserve President James Bullard said Wednesday that a tapering of the central bank's quantitative easing program will start on the next Fed meeting of 17th and 18th December, 2013.

 And, the better-than expected retail sales in U.S (0.4%),  has supported the USD against reassure investors and swelled the greenback.

Indeed, the end of the "Shut Down” has left catastrophic impacts on the social and economic fields.  However the recent economic data revealed the creation of 204 000 new jobs, the retail sales index showed that during this paralysis which lasted 16 days, consumption increased.

Many clues indicate  US economic  recovery and therefore the willingness of some FOMC  members to stop stimulus that increase more and more the outcome of the U.S. central bank ($3.9 trillion).

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