Welcome to Tuesday!
Greenback fluctuates near three-year minimum
On Monday, the evergreen buck fluctuated close to three-year minimums versus a basket of crucial currencies, struggling to pull ahead from six straight losing weeks amid its fading yield advantage as well as doubts as for the US government’s commitment to a strong US dollar.
The dollar's index versus a basket of six key currencies was intact, sticking to 89.059, having dropped to 88.429 on Thursday - a three-year sink.
The previous week Steven Mnuchin, US Treasury Secretary gave the US dollar bears a powerful boost with a tacit endorsement of a tumbling dollar. While Donald Trump did his best to have those comments debunked, the damage had already taken place and the evergreen buck’s downturn since November demonstrated little sign of abating.
Against the Japanese yen, the US currency fetched 108.72 yen, which is its lowest result since mid-September, proceeding with its dive so far this month to more than 3%.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…