Stronger USD amid Fed Meeting & Stronger Data

The US Dollar rose on back of strong U.S. economic data in recent weeks, which in turn has raised optimism that the Fed Reserve could tighten monetary policy sooner than anticipated. The optimism was further strengthened on Tuesday after the release of stronger-than-expected industrial production data for November.


The dollar jumped Tuesday to a 10-week high against the Euro amid signs that the U.S. economy may be picking up steam ahead of countries in the Euro zone.

Expectations the Federal Reserve could acknowledge a rosier outlook for the U.S. economy at the conclusion of its two-day rate-setting meeting Wednesday also underpinned the greenback.