There isn't a big catalyst for the dollar strength today but here are some reasons:
Strong US wholesale data and PPI
Trouble in emerging markets, especially Turkey
It's weathered the trade war rhetoric and news remarkably well
Add another one to the list -- the US Senate just passed a symbolic motion to back a role for Congress in reviewing tariffs based on national security grounds. The vote was an overwhelming 88-11 and suggests Congress might one day stand up to Trump on trade (some of their donors would certainly like that).
Tomorrow is CPI day and that will be a major mover but for now it's a one-way street for the dollar.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.