On Friday, the evergreen buck sagged to its lowest value for more than three months versus a basket of the other key currencies on the final market day of 2017, and reported its largest annual percentage dive since 2003.
Measuring the greenback’s value versus a trade-weighted basket of six key currencies, the US dollar index edged down to 91.83, which is the weakest reading since September 22.
For the year, the index has lost 9.8%, which is the biggest annual percentage sag since 2003.
The index actually started 2017 at a 14-year maximum, underpinned by expectations for Donald Trump’s pro-surge economic agenda. However, barring a sweeping tax overhaul enacted the previous week, the Trump administration has struggled to have legislation passed.
The evergreen buck also lagged notwithstanding the Federal Reserve’s rate lifts amid increased investor hopes for other key financial institutions to reduce their stimulus.
American multinational companies get down to reevaluating their currency hedging strategies following a leap in the evergreen buck for recent months because the impact of the stronger US currency starts influencing second-quarter corporate profits…
On Wednesday, the British pound headed south to the lowest value for 10 months versus the broadly stronger greenback because suddenly dismal British inflation data decreased chances for an August rate lift by Britain’s key financial institution…
On Wednesday, the evergreen buck managed to jump because Fed Chair Jerome Powell came up with an upbeat assessment of the American economy at his Tuesday’s semi-annual congressional testimony…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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