Euro falls for the first time in three days against the US dollar and the attention to Yellen speach

The euro fell during the Asian market on Friday against a basket of currencies, on its way towards the first loss incurred in three days against the US dollar, in light of the acceleration of buying the US currency operations again against most major currencies after the positive data released yesterday in Washington boosted confidence in the US economic growth path and it increased expectations of near raising US interest rates, and in order to evaluate those expectations investors awaited Yellen speach President of the Federal reserve later in the day in addition to US economic growth data for the first quarter of this year.

euro

Yesterday, the euro achieved a rise of more than 0.3 percent against the US dollar, the second daily rise a row, within the correction of the two-month low of $ 1.1128 recorded earlier in the trading on Wednesday.

The euro against the US dollar by 07:35 GMT, trading at 1.1180 from an opening price of 1.1192 after recording the highest price of 1.1200 and the lowest of 1.1178.

The euro fell during the Asian market on Friday against the US dollar, resuming its losses against the greenback, amid continued concerns about the deepening of monetary policy differences between Europe and the United States, in favor of the continuation of wide stimulus policy in the euro zone for a tighter US monetary policy and raising interest rates soon, especially with the succession positive data from the US economy growth path during the current year, which confirms its willingness to endure the effects of higher interest rates.

U.S. dollar

The dollar index yesterday lost 0.3 percent, the second daily loss in a row, due to correction and profit taking, after posting the day before yesterday the highest level in two months, 95.65 points, and the index reduced a loss of 0.5 percent after positive data in Washington showed a higher than expected durable goods orders during April and lower weekly jobless claims, and higher pending home sales in April by the highest pace in nearly a year.

By the time the dollar index 07:36 GMT, trading at 95.23 points from the opening level of 95.14 points, and recorded the highest level of 95.25 points and 95.10 points, the lowest level.

The dollar index rose during the Asian market on Friday, resuming the wave of the gains that have stopped temporarily for two days within a breathtaking operations, with the acceleration to buy the US currency again operations against most major currencies, amid strong expectations for the onset of the Federal Reserve to raise interest rates as soon as possible, especially with the succession positive data that confirms the readiness of the US economy withstand the effects of the decision to raise interest rates.

in order to evaluate those expectations investors awaiting later in the day for an important speech for Janet Yellen president of the Federal Reserve at Harvard University, it is expected to give new clues about the future of raising US interest rates during the current year.

ِalso will be released several important US economic data Perhaps the most important of these the second reading of GDP for the first quarter of this year, and other data on consumer confidence in the economy during the current month.

Published by 12:30 GMT the second reading of GDP during the first quarter, the expected growth rate of 0.8% from the 0.5% growth rate of the initial reading, and the US economy recorded a growth rate of 1.4% in the fourth quarter of last year.

And will be released later the final reading of the University of Michigan index measuring consumer confidence during May and the expected 95.7 compared to 95.8 initial reading.