Thanks to good economic data, including high U.S. factory activity, which raised speculation that the Federal Reserve will continue tapering its stimulus, the U.S. dollar rose today against several rival currencies, including the euro and yen. Today’s gain was the best for the dollar in five months. “This year is America’s time to shine and based on the latest economic reports, the U.S. economy is indeed outperforming the market’s expectations,” said Kathy Lien, managing director, at BK Asset Management in New York.
U.S. Dollar Hits Best Daily Gain in Five Months
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Physical buying boosted gold almost 2% higher today.
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