US dollar weaker almost on all fronts

Posted 20 December, 2018

The US dollar is slackening vs the majors by week's end driven by the statements of the US Federal Reserve as well as Jerome Powell's message.

The ICE Index dropped by some 0.5% at the Thursday trading. 

The euro-to-US dollar exchange rate rose to $1.1460 today. At the same time, the previous trading was closed at about $1.1376.  The Japanese currency progressed against the greenback, so the US dollar dropped to some 111.69 (112.48 earlier).

The sterling posted gains against the US dollar on Thursday reaching $1.2670, compared to $1.2610 recorded yesterday. At the same time, the British currency dropped vs the euro to EUR 1.1070 affected by the results of the BOE meeting.

It is also worth mentioning stronger Swedish krona in the pair with the US dollar at $8.9632 ($9.0980 earlier). The rebound is related to the unexpected decision of the Central Bank of Sweden, which raised the interest rate for the first time over the past 7.5 years.

Speaking about the greenback, the US Central Bank raised the interest rate during the December meeting, which was generally expected in the market. At the same time, the regulator downgraded the 2019 outlook for GDP and CPI. As a result, it is expected only two revisions next year. 

The BOE, on the contrary, maintained the interest rate at 0.75%. As the minutes of the meeting read, the economic forecast will be mostly based on how the country leaves the EU. This means that the regulator can make changes in any direction.

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21 December, 2018 13:37

← US officials propose new definition for digital token

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US officials propose new definition for digital token

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