Tag: currencies

US Dollar Consolidating Near Its Highest Level In 14 Years

NEW YORK – US Dollar Consolidating Near Its Highest Level In 14 Years; The US dollar fell against a basket of major currencies on Friday, but it’s still near the highest level in 14 years, which touched after the Fed meeting (Fed) on Wednesday, where profits curb the rise of the US currency taking.

Scored dollar index, which tracks the US currency’s performance against a basket of six major currencies in the latest 102.900 transactions to remain close to its highest level in 14 years and that it reached on Thursday at 103.560, but a decline of 0.12 percent on the day.

US Dollar

US Dollar

The index rose 1.2 percent on Thursday, its biggest daily percentage gain in nearly six months, a day after the central bank raised US interest rates for the first time in a year. The Fed also signaled that it is likely to increase interest rates three times in 2017, up from a forecast two increases in the central meeting in September Minutes.

Analysts said the sell-off to profit-taking ahead of the weekend in the United States and expectations of pressure on the dollar liquidity trend with year-end limited the dollar’s gains on Friday.

The euro rose in the latest reading against the dollar 0.2 percent to $ 1.0433, after reaching its lowest level in nearly 14 years at $ 1.0364 on Thursday, while the dollar fell 0.2 percent against the Japanese currency to 117.94 yen after hitting its highest level in about a dozen and a half months at 118.66 yen on Thursday.

And against the Swiss franc, the dollar fell in the latest trading 0.3 percent to 1.0268 francs after 1.0344 francs level it touched on Thursday, its highest level since August 2010.