(MENAFN– ecpulse)
The U.S. dollar advanced against major currencies ahead of a report due tomorrow which may show recovery is the U.S. is gathering momentum.
Advanced retail sales probably soared 0.2 percent in July, marking its sixth straight monthly growth.
The green currency is still taking the lead amid expectations the recent progress in economic data would eventually prompt the Fed to raise interest rates earlier than anticipated.
The EURUSD slumped for a second straight session to hit a new fresh low of 1.3334, compared with the session’s opening at 1.3381.
The euro trade near 9-month low after a report showing that German investor confidence plummeted for an eighths month in a row.
The index of investor and analyst expectations edged down to 8.6 in August from 27.1 in July, compared to median estimate of 17.0.
A report due on Thursday may signal Europe’s biggest economy dropped for the first time since 2012 in the second quarter, following a robust 0.8 percent expansion in the first three months this year.
Against the yen, the dollar surged on ease in geopolitical tensions in Ukraine and the Middle East.
The USDJPY is currently trading around 102.24 after touching a peak of 102.35.
The British pound also retreated against the greenback after taking a breather yesterday to resume its recent bearish direction.
The GBPUSD fell to set a low of 1.6754 after visiting a high of 1.6787.
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