The Dollar
The dollar was boosted against the euro by the demand for safety and optimism the world’s largest economy is improving. The Commerce Department will report Dec. 22 that the U.S. economy grew at a 2.8 percent annual rate during the third quarter, up from its initial estimate of a 2.5 percent pace, according to the median of a Bloomberg News survey of 61 economists.
The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners including the euro, yen and pound, rose as much as 0.4 percent.
The Pound
The pound rose against the euro and the dollar after the Confederation of British Industry said in a report the Bank of England will start raising interest rates within six months.
Interest Rate
Minutes of the Bank of England’s Dec. 9 Monetary Policy Committee meeting, due Dec. 22, will likely show members remained split in their decision to keep the key interest rate at a record low 0.5 percent and to hold the asset-purchase program at 200 billion pounds.
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