USD remained closer to its 14-year high against other currencies

USD remained closer to its 14-year high against other currencies

By: Oliver Miller | Where To Trade | On:Monay, November 21, 2016
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Even though USD went lower, the dollar still remained closer to its 14-year high against other currencies on Monday. This was possible due to general optimism triggers off by Donald Trump's election as President of USA and high expectation of  an upcoming rate hike.

This way, the Euro Dollar pair added 0.30%, rising to 1.0621.

USD remained supported as Donald Trump promises of ramping up fiscal spending and cutting taxes. These promises grow expectation on economy and inflation hike.

In this situation, the bets that the Central Bank of USA will raise interests in December made the dollar keep its status. 

Investors still wait for European Central President Mario Draghi's speech later in the day, after his declaration on Friday, when he said that the bank will continue to act like promised,and that's using all their available instruments. 

A similar situation happened on Thursday, when Fed Chair Jannet Yellen talked about a rate hike "appropriate relatively soon".

 

Oliver Miller

Oliver Miller

"Patience is the key for success"

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

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