Welcome to Tuesday!
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.
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…