The US dollar maintained most of the recent losses it had against major counterparts on Thursday, as investors held their positions in anticipation for a vote that decides the future of the GOP Healthcare plan.
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 weakened on Wednesday against the euro and the British pound, and touched its lowest level against the Japanese yen in four months. Doubts grew between investors toward the promises of President Donald Trump to cut corporate taxes and raise infrastructure spending, which have weighed on the greenback.
The US dollar retreated against its main counterparts on Monday to touch its lowest level in 7 weeks, as concerns grew between traders that the economic plans of the Donald Trump administration might face difficulties.
The US dollar today demonstrated a mild recovery against its main peers during the early North American session boosted by the stronger US Dollar Index. The US Dollar today demonstrated a recovery trend against the euro and the Japanese yen initiating a brief pause in the selling pressure that has plagued the currency since last week.
An index that tracks the strength of the US dollar traded on Friday near its lowest level since February 6, even as the greenback recovered some of its losses against the euro and the Canadian dollar today. Investors paid little attention to mixed data in the United States today, as anticipation built up for a meeting between the finance ministers of the Group of Twenty.
The USD/JPY currency pair today declined significantly after the release of the University of Michigan preliminary consumer confidence index, which indicated that the headline index had beat expectations. Despite the strong data from the US, the US dollar continued to perform poorly against the Japanese yen for the better part of the day.
The US dollar maintained its losses for the second day on Thursday, after a surprising drop against most of its major peers yesterday following an interest rate hike from the Federal Reserve. A number of economic releases revealed mixed data today, which forced the greenback to trade within a tight range.
The USD/CAD currency pair today traded with a bearish trend despite the release of positive Consumer Price Index data and advance retail sales data from the US docket. The Canadian dollar’s rally was largely sustained by the higher crude oil prices in the global commodities market with the WTI crude oil gaining at least 1.5% earlier today.
The US dollar gained strength against the euro and other major counterparts on Tuesday, as the greenback recovered from its losses on Friday. High anticipation for an interest rate hike from the Federal Open Market Committee tomorrow cleared the way for the US dollar to move higher at a time when other major currencies were held down by monetary and geopolitical forces.
The US dollar’s performance was quite disappointing after the release of the non-farm payroll data by the Bureau of Labor Statistics, which exceeded expectations. Contrary to market expectations of a rally by the US dollar, the currency rallied briefly before retracing most of its gains, indicating that the markets had already priced-in the positive NFP.