YEREVAN, September 29. /ARKA/. The dollar touched a fresh four-year high against a basket of currencies and a six-year peak against the yen on Monday, getting a tailwind from data showing higher U.S. growth in the second quarter.
It rose to a nearly two-year high against the euro, held aloft by divergent market expectations for U.S. and European monetary policy.
The greenback also rallied to a 13-month high against the New Zealand dollar after Reserve Bank of New Zealand data showed that the central bank intervened last month to speed its currency’s descent.
Dollar bulls cheered Friday’s report from the U.S. Commerce Department, which raised its estimate of gross domestic product to show the economy expanded at a 4.6 percent annual rate – its fastest pace in 2-1/2 years.
The pick up in the economy was broad-based and highlighted a faster pace of business spending and sturdier export growth than previously estimated. –0–
