Greenback is stuck near one-month minimum

Greenback is stuck near one-month minimum

On Friday, the evergreen buck fluctuated near a one-month minimum versus a basket of currencies, while commodity currencies, including the Australian as well as Canadian dollars hit two-month peaks due to firmer energy and also metals prices.

The US dollar index versus a basket of six key currencies didn’t change, sticking to 92.602 having dived 0.4% overnight to 92.573, which is its lowest value since November 27.

The US dollar index found itself on track to dive 0.5% this month.

As seasonal trends in the currency market have revealed, the evergreen buck tends to go down after Christmas through the first few days of 2018 before being bought back once again.

A great number of institutional traders close their books at the year-end, which appears to be a deadline for taxation as well as performance reporting, and a time believed to provoke dollar selling pressure.

The US currency lost 0.1 pct, hitting 112.735 yen.



Euro reaches one-week maximum on hawkish comments

On Tuesday, the common currency demonstrated a one-week maximum because market participants added trading positions on a hawkish overnight statement by a policymaker, which reaffirmed bets the euro zone economy's outlook is still firm enough…


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