Forex analysis. Greenback holds on to gains

news_22_feb_1_euro_usdOn Wednesday, the evergreen buck ascended in Asia, as Federal Reserve policy-setters fanned hopes for a rate life this month, thus overshadowing a key speech by Donald Trump that offered little details on his stimulus.

The greenback traded at 113.16 yen, rising 0.35% from late American levels, while the common currency dipped 0.1% against the greenback to $1.0565.

The US dollar index, assessing the greenback against a basket of six crucial counterparts, last leapt 0.1%, trading at 101.45.

In his speech to the Congress, Donald Trump opened the door to a broad overhaul of the American immigration system and also vowed to pursue massive tax relief for the middle class, though stopped short of providing any details.

Earlier, the major American currency had ascended after a handful of Federal Reserve policymakers powered hopes for a March interest rate hike.

American economic data issued on Tuesday demonstrated a moderate growth path because the American economy expanded at a slower pace during the fourth quarter, which is in line with the previous month’s estimate.

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