The US dollar continued to benefit from the outlook for monetary tightening from the Federal Reserve, rising against a basket of currencies during Monday’s trading. The greenback gained mostly on currencies of emerging markets, while its performance versus major currencies was far from stellar.
US Dollar USD
Central Bank: Federal Reserve System
Public Debt to GDP Ratio, 2015: 73.6%
Trade Balance, 2015: -$749 bln.
Inflation, 2015: 0.2%
Global reserve currency
International trade currency
World's strongest economy
Safe haven currency
Factors of Weakness
Huge public debt
Negative trade balance
The US dollar is the currency of the United States of America. Introduced back in 1792 it has a long history of being strong medium of exchange. The currency is widely used in global international trade, as the reserve currency and is officially used in several countries besides the United States. The US dollar is also sometimes referred as greenback or simply the American dollar.
US Dollar News Archive
The US dollar was strong this trading week thanks to the continuing speculations that the Federal Reserve is going to perform an interest rate hike in the near future, perhaps as soon as the next month.
There’s a decent amount of downward pressure on the greenback right now, and the dollar index is falling. Greenback is trading lower against its major counterparts and is mostly lower against other currencies today.
The US dollar index is higher today, but the gains are tempered by a UK pound that is gaining ground. Rate hike expectations and better economic data continue to help the greenback in currency trading, even though the US currency is lower against the sterling today.
Speculation about the next Fed rate hike is sending the US dollar index higher, and supporting the greenback against its major counterparts. Dollar is higher against many of its counterparts as Forex traders look for a rate hike by the end of 2016.
The US dollar ended the week strong against the majority of other most-traded currencies thanks to the minutes of the Federal Reserve policy meeting. The only currencies that have shown resilience against the greenback were the Great Britain pound and the New Zealand dollar.
The US dollar traded higher against most of its major peers, though it was not able to beat all of them. Among the currencies that stood strong against the greenback was the euro, though currently EUR/USD is trying to move closer to the opening level.
US dollar is mostly higher today, gaining ground against many of its counterparts as better than expected data prompts hopes of action from the Federal Reserve. Greenback is down against the pound, but gaining against other counterparts.
The US dollar was broadly higher against other currencies during this week’s trading amid speculations that the Federal Reserve may yet resume its monetary tightening.