Forex Market Update : Epic Research Singapore

The ICE U.S. Dollar index rose to its highest level in 13 years Wednesday following hawkish comments from Federal Reserve Chairwoman Janet Yellen, who appeared to put the U.S. central bank on track to raise interest rates in two weeks, and a strong employment report.

The index DXY, +0.10% a measure of the dollar’s strength against a basket of six currencies, was up 0.2% at 100.01 in late Wednesday trade. Earlier, the index traded as high as 100.51, according to FactSet data, its highest level since April 2003.

The euro EURUSD, -0.1790%  traded at $1.0619 late Wednesday in New York after trading as low as $1.0551

The shared currency traded at $1.0629 late Tuesday in New York.

Meanwhile, the pound GBPUSD, -0.1605% traded at $1.4949 late Wednesday, after trading at a seven-month low of $1.4909 earlier in the session. It traded at $1.0574 late Tuesday.

The dollar traded at ¥123.20 Wednesday, USDJPY, +0.06% compared with ¥122.87 Tuesday, after rising to its highest level against the Japanese currency in two weeks earlier.

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