Greenback languishes at 10-month minimum

Greenback languishes at 10-month minimum

On Tuesday, the evergreen buck slumped to a 10-month minimum versus a basket of key currencies. It was caused by uncertainty over the pace of the Fed’s policy tightening and concerns that Donald Trump won’t be able to deliver healthcare reforms.

Versus a basket of six crucial currencies the US dollar’s index decreased to a 10-month minimum of 94.75. Apparently, from its 14-year high of 103.82 hit on January 3, it has dropped 8.4%.

Friday's dismal reading on American inflation along with retail sales also spurred speculation that the major US bank might not have justification for another rate lift by the end of 2017 notwithstanding policymakers' projection for such a move.

Meanwhile, Great Britain and Canada have recently hinted they could adjust their monetary policies, with the Bank of Canada lifting rates the previous week for the first time since 2010.

The greenback’s loss accelerated after the common currency grew above a key big number of $1.15.

The euro surged 0.4% being worth $1.1528, reaching its highest value since May the previous year.

Against the Japanese yen the greenback dived 0.4%, trading at 112.30 yen.

 

 

Similar

USD/MXN: optimistic on the vaccine coming?
USD/MXN: optimistic on the vaccine coming?

During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?

Latest news

How to trade ahead and after BOC report?
How to trade ahead and after BOC report?

The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.

US earnings in January 2021: what you need to know
US earnings in January 2021: what you need to know

We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera