The dollar fell to its lowest level in three months

The dollar fell to its lowest level in three months

The first trading day 2018 year was marked by a sensitive dollar drop, the largest in the last three and a half months. Trading volumes in 2017 was low. At the same time, the Euro is on the upsurge, especially in the second half of last year, due to optimistic predictions about the positive developments in the EU economy.

The dollar index reached 3.5-month low in 91,751 and the last time fell 0.1 percent to 91,996. DXY. For 2017, the dollar index fell a total of more than 9.8 percent, which was its weakest year since 2003.

«Investors are still skeptical about the forecast for the fed to increase interest rates three more this year, especially given the unusually favorable inflation climate in the United States,» said the source Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

The potential of the dollar was limited, as many large Central banks such as the Bank of England and the European Central Bank, took a course on the normalization of its monetary policy.

Some strategists said that the traders are dollar wary ahead of a planned Wednesday, the large-scale introduction of the EU Directive on financial markets, known as MiFID II, the aim of which is to increase transparency of European markets and investment efficiency.

2017 was the year of the single European currency to the strongest against the dollar since 2003 . Over the last 4 months, the Euro rose, climbing on the highest for this period the mark of 1.2082 $.

«It’s a combination of dollar weakness and Euro strength. The Euro is also supported by aggressive comment Koera», — said the publication currency strategist Commerzbank’and Thu LAN Nguyen.