The dollar rises amid market turmoil following the US attack on Venezuela

⁠The dollar began the first full trading week of the new year on the rise, rising to its highest level in 3 and a half weeks against the euro and increasing against the pound sterling.

Currency movements are modest so far today, although the US attack in Venezuela and the arrest of President Nicolas Maduro to face drug trafficking charges in New York pose expected risks to sentiment.

US macroeconomic indicators this week may be decisive in directing the policy of the Federal Reserve (the US central bank).

The dollar rose 0.1 percent to $1.1705 against the euro, and had previously risen to $1.170025 for the first time since December 11.

The dollar increased 0.1 percent to 1.34495 against the British pound, and also rose 0.1 percent to 156.90 yen.

Investors are also awaiting who US President Donald Trump will choose to be the next Chairman of the Federal Reserve, as current President Jerome Powell’s term ends in May.

Trump said he will choose the head of the Federal Reserve this month, adding that Powell’s successor will be “someone who believes in lowering interest rates, by a large percentage.”