The US dollar has touched a 3-year bottom vs the majors on persisting fears that the greenback can lose its earning power, while central banks start closing monetary stimulus programmes.
The US Dollar index has been below 90.00 for the first time since December 2014, falling to some 89.60.
In this situation, the euro has reached its top price over 3 years thanks to the current US dollar slump; the sterling has hit the peak since June 2016. Specifically, the euro was even at $1.2324 and the sterling – $1.4035.
Negative performance was recorded against Japanese yen as well. In that pair, the American currency moved below the 110 mark for the first time over the past 4 months. The yen has got stronger over the recent weeks, as the Bank of Japan reduced long-term bonds buying in early January, which summoned fears that the bank was about to shutdown monetary stimulus programmes.
During the session, the greenback dropped even to JPY 109.80. Month-to-date US dollar has lost around 2.5% against the yen, which is probably the biggest drop y-o-y.