The Dollar Continues to Strengthen During European Session

The USD continued to strengthen during the European session against other currencies.

EUR/USD also lost ground as the need becomes clear for the ECB to diverge from the Fed on future monetary policy actions.

GBP/USD wasn’t swayed by today’s U.K. GDP which printed in line with expectations and certainly wasn’t enough to relieve pressure from the USD’s rally.

USD/JPY reached its highest level since mid-1990 at 153.34, but there were no comments from any Japanese officials which suggests a potential intervention is not likely at the moment.

The AUD and NZD also lost strength against the USD since there was no significant economic news to impact them.

This article was written by Gina Constantin at www.forexlive.com.