Corporate foreign exchange news

Dollar set to climb further against major foreign currencies

Wednesday, 23 December 2009 09:13:20 GMT

Published by Zeb Bham
The dollar will climb further against the yen and other major foreign currencies, according to the Royal Bank of Scotland (RBS).
A statement from the group came as the dollar maintained its course to record the largest monthly appreciation against the yen since February.
Bloomberg data showed that the greenback rose against 15 out of the 16 most actively traded currencies this month.
Greg Gibbs, a strategist at the Sydney offices of RBS, wrote in a note to clients that the dollar will continue to gain on stronger economic data.
"The more stable data trend is supporting a turnaround in the dollar; increasing the odds that the Fed will be thinking about edging policy rates out of their emergency setting at some stage next year," he said.
This morning, the dollar approached a three-month high against the euro ahead of an upcoming report which is expected to show a further rise in home sales in the US.
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