US dollar rises as strong data push against dovish policy narrative

Published by
Reuters UK

By Laura Matthews NEW YORK (Reuters) – The dollar strengthened against the euro on Thursday, after better-than-expected U.S. economic data continue to foil investors’ expectation for relatively dovish monetary policy from the Federal Reserve. A recent string of strong data show that, for now, the U.S. is staving off a recession, increasing the likelihood that the Fed could further hike interest rates if it continues to see strong economic numbers across the board. The U.S. economy grew faster than expected in the second quarter as labor market resilience underpinned consumer spending, while bu…

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