{"id":90517,"date":"2016-05-30T07:15:24","date_gmt":"2016-05-30T11:15:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=90517"},"modified":"2016-05-30T07:15:24","modified_gmt":"2016-05-30T11:15:24","slug":"dollar-jumps-as-yellen-signals-imminent-rate-hike-yen-tumbles-to-month-low","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/05\/dollar-jumps-as-yellen-signals-imminent-rate-hike-yen-tumbles-to-month-low\/","title":{"rendered":"Dollar jumps as Yellen signals imminent rate hike; yen tumbles to month low"},"content":{"rendered":"
May 30, 2016<\/div>
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Article by ForexTime<\/a><\/p>\n

The US dollar strengthened after Federal Reserve Chair Janet Yellen said on Friday an interest-rate increase is likely in coming months. Gold fell for the ninth day in a row, its longest losing streak in a year.<\/p>\n

Yellen said that an improving American economy would probably warrant another rate increase \u201cin the coming months,\u201d a view expressed by several regional Fed chiefs in recent weeks, and Friday data showed growth picked up more than was previously estimated in the first quarter.<\/p>\n

The dollar index, a measure of the US currency against a basket of global peers, extended gains, and was up 0.4 per cent on Monday at 95.913, a two-month high.<\/p>\n

The precious metal fell as much as 1 percent to $1,200 an ounce, a level last seen in February as gold is sensitive to US interest rate expectations.<\/p>\n

The Japanese yen dropped to one-month low after disappointing retail sales data out of Japan which suggested that Prime Minister Shinzo Abe would likely delay a planned tax-hike.<\/p>

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The Japanese yen was down 0.6 per cent at an almost one-month low of \u00a5110.95 per dollar and had crossed through \u00a5111 for the first time since April 28.<\/p>\n

The stronger US dollar has kept commodity prices under pressure. Brent crude, the international benchmark, was down 0.2 per cent at $49.23 a barrel, while West Texas Intermediate, the US marker, was flat at $49.34. On June 2, OPEC members are due to meet, which may provide investors with additional details about a potential global production freeze. Last week, Brent traded above $50 a barrel for the first time since November.<\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime The US dollar strengthened after Federal Reserve Chair Janet Yellen said on Friday an interest-rate increase is likely in coming months. Gold fell for the ninth day in a row, its longest losing streak in a year. Yellen said that an improving American economy would probably warrant another rate increase \u201cin the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-90517","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/90517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=90517"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/90517\/revisions"}],"predecessor-version":[{"id":90527,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/90517\/revisions\/90527"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=90517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=90517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=90517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}