Strong U.S. Data Helps Prop Dollar To Two Week High – 16 May, 2019

Strong U.S. economic data held the dollar up to a two week high, helping it gain against major peers. Against a basket of six major currencies, the dollar rose to 97.882, its highest since the beginning of May,  before settling at 97.836. Other factors that helped the greenback strengthen came from robust housing data and weekly jobless claims report, as well as weaker counterparts such as the euro and pound. The euro fell to its lowest since May 6 overnight to $1.1166 before stabilizing throughout the day to $1.1178. Against the yen, the dollar added 0.1% to overnight against to settle at 109.55 yen.