Daily News | U.S. dollar going strong

According to the newest market indicators, it looks like the U.S. dollar is rising again. The data collected and published by the Commerce Department shows that U.S. housing starts have been growing, which will also give a massive boost to the U.S. currency. Housing is probably the most important part of the U.S. economy and it affects many other industries (banking, construction, real estate, the mortgage sector etc.). This month it rose 4.8%: reports tell us that there are 1.015 million homes under construction in June, which is the highest level since February 2008. Investors are waiting if the U.S. central bank will rise rates by its December meeting (the chances are now almost 50/50). Currency strategists think that the dollar will rise along with U.S. rate expectations.

As for the Asian market, it seems that no “helicopter money” will simply enter the Japanese market. Still, some other moves could be made in order to handle the deflation, such as aggressive fiscal and monetary expansion. It remains to be seen which path Japan’s monetary policy will take. Meanwhile, the dollar became even stronger against the yen after a 0.1 percent rise and it now trades for 106.20 yen.

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