Such a sharp drop in the dollar not seen since 2003

Such a sharp drop in the dollar not seen since 2003

This year, the US dollar experienced the sharpest decline, for the first time since 2003. Experts say that this is due to the decline in the yields of US Treasuries. At the moment that is fixed by the 9% depreciation of the U.S. currency against the Euro. Index ICE U.S. Dollar, reflecting the dollar’s value against six major currencies, was down 0.26 percent. Another indicator — the WSJ Dollar, which tracks changes in the value of the dollar against 16 major currencies shows a fall of 0.32 percent.

A chance for the strengthening of the dollar was once signed by the President trump the new tax plan. However, since this happened just before Christmas, and at Christmas and several days after it markets practically not traded, this chance was not sold. In addition, most investors and traders prefer to go with «Christmas vacation» and go back to work just after the New year. So economists do not give up hope for improvement in January 2018.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *