After Russia announced their warplanes ended drills near Ukraine on Friday, U.S. equities rallied. Against its counterparts on Monday, the dollar to pound exchange rate rose by 0.08 percent on a day-to-day comparison at 1.6777. The greenback was also up against the euro by 0.14 percent at 1.3409. The dollar to yen exchange rate was 0.03 percent higher at 102045, reports Pound Sterling Live.
The U.S. Central Command in Tampa, Florida, reported on Sunday that the U.S. attacked several armed trucks and a mortar position held by Iraqi militants with fighter jets and drones, while Israel and militants in the Gaza Strip came to terms on an Egyptian-brokered truce.
Alvin T. Tan, the director of foreign-exchange strategy at Societe Generale SA in London, said "The ending of Russian military exercises near Ukraine is contributing to a rally in global equities. The drop in short-term interest rates in the U.S. recently has been supporting global risk sentiment and specifically U.S. equity markets. If Iraq militants can be forced back, that is also a good thing," according to Bloomberg.
Rebounding from a disappointing start to the year, the dollar is forecasted to continue advancing as the country's global economic momentum consistently accelerates between now and 2015.
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