U.S. dollar trades at 3-week highs
The U.S. dollar approached its 3-weeks high levels against the Japanese yen today, amid the FED's officials stating that the U.S. inflation should escalate in alignment with wages.
The greenback traded to its highest zone since May appreciating to 111.77 yen, performing a gain of 2.7%.
On Monday, William Dudley, New York FED President, stated that the labor market should boost inflation supporting the dollar to rise.
The dollar (DXY) climbed versus a group of six main currencies as high as 97.60, the strongest zone since May 30, with the U.S. dollar index trading at 97.51. The euro moved to $1.1156 rising 0.1%, and the sterling stabilized at $1.2740.
Oil trades higher on producers' ongoing efforts
Oil prices aimed higher, with the gains though being limited amid the major producers' ongoing efforts to minimize a global glut and output.
The U.S. WTI crude for August contracts traded at $44.59 appreciating 0.3% or 15 cents. Brent oil on the ICE Futures Exchange approached $47.10 a barrel rising 19 cents.
Natural gas futures for July reached $2.901 per million British thermal units escalating 0.7 cents, heating oil traded to $1.415 a gallon, and gasoline futures stabilized at $1.452 a gallon.
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