US Dollar is expected to keep rising againt major currencies especially EURO. US economic data released in the past few days has been encouraging and better than expected. This has made US Dollar very bullish. Keeping in view the strong economic recovery, market analysts think that FED will be forced to raise interest sooner than expected. The U.S. Dollar Index – which measures the buck against a basket of other currencies – is near its highest levels since September 2013. The minutes from the last Federal Reserve meeting, in which the central bank debated raising rates sooner than expected, helped the dollar on Wednesday. Higher interest rates make owning the U.S. dollar more attractive compared withother currencies.
“We’ll continue to see it strong,” said Seaburg of the dollar. “The U.S. is essentially ending QE [quantitative easing] and the ECB [or European Central Bank] is just beginning QE, so rates are going to go higher.”