TOKYO, Japan, May. 15, 2015 /Market Watch/ Excon Fuji Securities reported the U.S. dollar at a seven-week high against other major currencies on Thursday, powered by forecasts for a rate hike by the Federal Reserve next month.
EUR/USD was little changed at 1.1217, while USD/CAD gained 0.33% to trade at 1.3077.
The U.S. dollar index remained unchanged at 95.19, the highest since March 29.
"The greenback rose after minutes of the Fed’s April meeting showed a probability for a rate hike in June if economic data indicated that growth was improving in the second quarter and employment and inflation were firming," commented Daniel Sharp, Director of Corporate Equities at Excon Fuji Securities
Earlier this week, economic data showed that U.S. consumer prices rose in April at the fastest pace in three years, while industrial output and housing starts both saw a rebound. Such optimistic data indicated that the U.S. economy was regaining momentum at the start of the second quarter following a slowdown in growth during the first quarter.
The greenback fell against the pound, with GBP/USD up 0.21% at 1.4630, after the U.K. Office for National Statistics said retail sales rose 1.3% in April, well above economists’ forecasts for an increase of 0.5%.
