The dollar grew thanks to positive expectations

The US dollar slightly grew during Monday trading. Investors were affected by optimism around the progress of US economy, even though numbers of newly confirmed cases of coronavirus increased in the US.

The dollar grew thanks to positive expectations

Moreover, the dollar strengthened due to positive expectations on US Labor market. Investors believe that numbers of vacancies could grow in 3 million during June. The numbers are based on analysts’ estimates, Reuters reported. Furthermore, preliminary estimates show that numbers of purchase contracts for real estates grew. This can serve as another indicator of economic recovery in the US. 

However, some analysts claim that a growing dollar is connected to the end of second quarter and investors only open their currency positions in the last minute. As release of some anti-pandemic measures have been postponed, or rather have been imposed again –  in Texas, Florida or California, there’s concerns that the US economy has not bounced off the bottom yet. And these three countries belong among four strongest states of the US. If their economies should remain in recession longer, it would prolong crisis for the rest of the states. 

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