The US dollar had a small recovery on Wednesday from its losses yesterday. The greenback attempted, with limited success, to find upward momentum, a day after President-elect Donald Trump said the US currency is too strong.
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 experienced a sharp decline against its major peers on Tuesday, after US President-elect Donald Trump spoke against the strength of the nation’s currency. The British pound was the biggest gainer against the US dollar.
The USD/CAD currency pair struggled to maintain its upward momentum today even as US markets remain closed. The pair demonstrated mixed results similar to those of last week given that weakness in the US dollar typically strengthens the Canadian dollar.
The US dollar ended the week broadly weaker against other major currencies as markets were disappointed by the first press conference of Donald Trump as a president.
The release of positive retail sales data for the month of December boosted the performance of the US dollar against major currencies before the gains were erased. The US dollar rose briefly after the US Commerce Department released data regarding consumption during the month of December.
The US dollar continued to perform poorly a day after Donald Trump‘s speech as Investors expect Fed speakers to give direction regarding future fiscal policies. There was widespread selling pressure on the greenback as investors demonstrated their loss of confidence in Trump given that he did not outline the specific policies that he will pursue.
The US dollar declined significantly against other major currencies as the markets reacted negatively to Donald Trump‘s first press briefing as president. The US dollar lost much of the ground it had gained earlier in the day after Trump announced his short-term plans for the USA given that he assumes office in nine days.
The US dollar opened trading on Tuesday with a choppy start and has demonstrated mixed results in daily trading against other major currencies. Some currency pairs that include`the US dollar have started retracing their bullish trends towards the greenback.
The US dollar fell against most of its major counterparts (though not against the very weak Great Britain pound) on Monday, though analysts kept the bullish outlook for the greenback over the longer term due to prospects for faster pace of interest rate hikes this year.
The US dollar climbed against its major peers on Friday, as traders paid little attention to disappointing data that was released earlier today. The greenback is resuming its recent rally on stable economic growth and expectations of higher inflation rate in the United States.