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The US dollar advanced further on Wednesday, holding at over 11-month highs against a basket of major currencies on a view the US economy was improving and that minutes from the Federal Reserve's July meeting could show a slightly less dovish tilt. The greenback hovered near 11-1/2-month highs against the euro and 4-1/2-month highs against the yen after Tuesday's stronger-than-expected data on US housing starts for July, which analysts said reinforced an optimistic view on US growth and underpinned the dollar's strength.

The US dollar hit nine-month highs against the euro and rose against a basket of major currencies on Tuesday after strong US housing data bolstered expectations for an earlier-than-expected rate hike from the Federal Reserve. US housing starts surged 15.7 percent to a seasonally adjusted annual 1.09-million unit pace in July, snapping two straight months of declines, the Commerce Department said on Tuesday. Economists polled by Reuters had expected starts to rise to a 969,000-unit rate last month.
Sterling rebounded from four-month lows against the dollar on Wednesday after Bank of England minutes showed two policymakers voted for an interest rate hike in August, catching many investors by surprise. Bank of England policymakers Martin Weale and Ian McCafferty both voted this month to start raising interest rates, becoming the first officials on the nine-member Monetary Policy Committee (MPC) to do so in more than three years.
The dollar jumped on Wednesday to its highest levels against the euro and a basket of major currencies since last September, returning to gains after a shaky start to August that called into question its broader strength. Two days of upbeat signals on the domestic housing market have been enough to put the US currency back on track and it has now gained some 7 cents, or just under 5 percent, against the euro since early May.
The dollar reached an 11-month high against the euro and a basket of major currencies on Wednesday, buoyed by optimism over the health of the US economy. The greenback broke through resistance around $1.3300 and last November's high of $1.3295 per euro in morning trade in Europe. It also climbed to a 4 1/2-month high against the yen.
The Indian rupee rose to a near three-week high against the dollar on Wednesday on the back of strong foreign investor buying in the debt market, although greenback demand from importers and a fall in shares limited further gains. Traders said a large foreign bank was spotted selling dollars, amounting to around $250 million, for investment intended into government bond markets.
Interbank buy/sell rates for the taka against the dollar on Wednesday. 77.43-77.44 (previous 77.43-77.44). Call Money Rates: 05.50-07.00 percent (* previous 05.50-07.10 percent). (* revised).
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Index Closing Chg%
Arrow DJIA 16,979.13 0.35
Arrow Nasdaq 4,526.48 0.02
Arrow S&P 1,986.51 0.25
Arrow FTSE 6,755.48 0.35
Arrow DAX 9,314.57 0.21
Arrow CAC-40 4,240.79 0.32
Arrow Nikkei 15,454.45 0.03
Arrow H.Seng 25,159.76 0.15
Arrow Sensex 26,314.29 0.40

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln