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The dollar strengthened against the backdrop of closing short positions on the eve of the release of new data



The dollar strengthened against the Japanese yen during trading Wednesday.



05.Jul.17 2:03 PM
By Daria Zaytseva
Photo Toinnov.com

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The dollar strengthened against the backdrop of closing short positions on the eve of the release of new data
Itís rising to the highest level in almost two months, as investors covered short positions on U.S. currency ahead of the release this week of data that will provide a clearer picture of the current U.S. economic recovery.

The gradual increase in the yield of short-term U.S. government bonds since the beginning of June was not accompanied by the growth of the U.S. currency. The dollar index, which tracks the dynamics of the U.S. currency against a basket of six major competitors, has been swinging from side to side in recent days.

According to market analysts, if the data to be published this week turns out to be good, the dollar's rate will go up.

The dollar added 0.3 percent to 15.35 GTM and traded near 113.59 yen, the highest level in almost two months. In relation to the euro, the U.S. currency as a whole does not change, being around $1,13530.

The closing of short positions on the dollar is observed and paired with the euro - the single currency declined 0.2 percent to a minimum of one week of 1.1323.

The British currency fell to $ 1.2894, which is 0.3 percent lower than the previous close. The Canadian dollar shed its position, trading near C $ 1.2962 per U.S. dollar after reaching a 10-month high C $ 1.2912 the day before.



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