The dollar remained little changed against the euro on Wednesday, as traders braced for a monetary policy decision from the European Central Bank on Thursday. The bank’s decision might bring increased quantitative easing to the European Union.
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 had a tight range of movement against the euro on Tuesday, as currency traders anticipated upcoming monetary policy meetings in major economies.
The dollar experienced strong volatility on Monday as a major political event in Europe raised the anxiety of currency traders and forced the euro to be subjected to rapid movements against the US currency.
The dollar has ended the week unexpectedly soft, though it managed to gain on the even weaker Japanese yen, as markets did not welcome the mixed employment data from the United States.
The dollar declined against most of its major peers on Friday, following a new report that revealed average jobs gains in November. The US currency, which rose during the past 3 weeks, could be having a corrected movement after its rapid rally in the wake of Donald Trump’s presidency.
The US dollar dropped against other most-traded currencies today as traders were taking profits at the start of the new month that followed November, which was a very good month for the US currency.
The dollar rose higher against other major currencies on Wednesday’s trading session. The US currency’s gains came as a stack of data releases in the United States and news of a highly anticipated agreement to cut oil production lifted investors’ optimism today.
The dollar returned to gains against most of its major peers on Tuesday, as newly released data in the United States revealed that the growth rate of gross domestic product was stronger than previously expected during the third quarter.
The dollar retreated as it trailed a drop in the yields of US Treasury notes on Monday. The greenback’s decline followed increased worries that the Organization of the Petroleum Exporting Countries might fail to reach a deal to cut output in a meeting later this week.