American dollar, influenced by 2017`s rate hikes

American dollar, influenced by 2017`s rate hikes

By: Oliver Miller | Where To Trade | On:Monday, 19 December 2016
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   The dollar index, that measures the USD's strength against other six major currencies, went down 0.1%, trading at 102.82, due to investors that took profits before the winter holidays.

   After reaching its 14-years high last week, when the American dollar went up to 103.55, as the Federal Reserve hiked the interest rates and planned three more hikes for the next year, in 2017. 

Two of the rate hikes are planned for September 2017. 

   USD was down against the Yen, reaching 117.45 early in the trading session, after previously reaching its 11-month high last week. 

   Euro remained almost the same, trading at 1.0445. The result is very disappointing and very close to Euro's 14-year low record of 1.0365 hit last week.

 

Oliver Miller

Oliver Miller

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Oliver Miller is one of the best financial analyst with 18 years of online trading experience

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