U.S. Dollar Index in Longest Rise Since June as Jobs Data Show Growth

Currencies , US Dollar Mar 09, 2013 No Comments

US dollarThe Dollar Index, Intercontinental Exchange Inc.’s benchmark that tracks the greenback against the currencies of six major U.S. trading partners, reached its highest level since Aug. 3. It added 0.5 percent to 82.715. The weekly gains streak was the longest since the five days ended June 1.

The dollar is “holding its own at a time when equities are doing quite well and risk appetite is firming,” Richard Franulovich, senior currency strategist at Westpac Banking Corp. in New York, said in telephone interview. “It’s a potentially momentous correlation shift, whereby the dollar is now a growth currency.”

via Dollar Index in Longest Rise Since June as Jobs Data Show Growth – Bloomberg

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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