US dollar still at the bottom depressed by officials' statements

Posted 25 January, 2018

The US dollar price has been near the 3-year bottom against other main currencies on January 25. The current greenback dynamics is related to the recent statement of the US Finance Minister as well as fears summoned by Donald Trump's speech at Davos-based World Economic Forum.

The market was steadily unstable given that the White House said that Donald Trump was going to highlight America First policy via his address in Davos.

Specifically, Trump's policy can involve a pull out of the North-American free trade agreement and refusal from signing Paris climate treaty.

Extra pressure on the US dollar came from the statement of US Finance Minister stating positive impact from the slack dollar on American commerce sector.

The US Dollar index plunged 0.18% in the course of the day touching the bottom over the past 3 years at 88.85.

In this situation, the euro-to-US dollar exchange rate soared to 1.2427, which is the highest level over a 3-year period. Investors await results of the meeting of the European Central Bank.

The sterling has improved vs the US dollar by 0.17% today to 1.2464, which is also an all-time record observed over 19 months.

AUD and NZD strenghtened vs the US dollar to 0.8080 and 0.7361 respectively.

The USD-CAD pair weakened to 1.21315.

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25 January, 2018 16:48

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