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U.S. Dollar Advanced Amid Optimistic Fed Comments

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Dear Traders,

The U.S. Dollar traded higher against the euro and British pound amid optimistic comments from Federal Reserve policy makers. Fed officials view the U.S. economy as strong enough to withstand a rate hike in 2015. Fed Bank of Atlanta President Lockhart said yesterday he remains confident the central bank will tighten this year and he indicated that the September FOMC decision was a close call.

Investors were relieved and drove the greenback higher, even though yesterday’s Existing Home Sales report was below expectations.

GBP/USD

Sterling declined against the greenback but stopped its slide slightly above 1.5480. Today’s focus will be on U.K. Public Sector Finances, scheduled for release at 8:30 GMT. Borrowing is expected to show a rise in August, increasing the chances for an upward move towards 1.5570 and 1.5625.

The only piece of eurozone data will be Consumer Confidence, scheduled for release at 14:00 GMT. Prior to that, U.S. House Price Index is due for release at 13:00 GMT, but the impact on the currencies could be limited.

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