Greenback is on defensive

Greenback is on defensive

On Tuesday, the evergreen buck languished close to a three-month minimum versus a basket of key currencies because financial markets reopened in the beginning of 2018. Meanwhile, Asian currencies, including the Chinese Yuan started 2018 on a high note.

The dollar's index versus a basket of six key currencies kept to 92.162. However, on Friday it had dived to 92.080, which is the weakest reading since September 22.

The dollar index has declined more than 9.8% for the whole of 2017, which is the US dollar’s worst annual performance since 2003.

In 2017, the evergreen buck retreated, partly due to the fact that economic surge picked up outside America, with other countries' key financial institutions shifting to tighter monetary policy, thus lessening the perceived divergence between the Fed and others.

The common currency soared 0.1% on the day hitting $1.2018, having ascended 14% last year for its most impressive annual performance since 2003.


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