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The US Dollar Index closed slightly higher for the week ended February 8, 2018, ending seven straight weekly losses. A hawkish FOMC statement, strong January payrolls and profit-taking in other major currencies supported the dollar, which closed at 89.0.
The dollar's first weekly gain in seven weeks could limit the price support that a weaker dollar gives to dollar-priced commodities. Speculators remained net short, so further short covering could add to dollar strength.
marketrealist.comRicky CoveFeb 5, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Hawkish FOMC statement, strong payrolls and profit-taking in other currencies ended seven weekly losses and supported the dollar.
