The US dollar was trading in a narrow range during the past trading week, closing almost flat against the vast majority of its most-traded peers. The only exception was the Japanese yen, against which the dollar rallied during the week but slid below the opening level by the weekend.
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 traded lower against the vast majority of most-traded currencies (with the exception of the very weak Australian dollar), falling for the second day in a row, even though macroeconomic data released from the United States was good for the most part.
The EUR/USD currency pair rallied higher today solidifying the gains made yesterday as the US dollar weakened based on weak housing starts data released by the Census Bureau today. The US dollar weakened against the euro despite the hawkish outlook reported by Fed chair, Janet Yellen, during her two-day Humphrey-Hawkins testimony before Congress.
The US dollar rallied intraday on Wednesday thanks to positive economic reports released from the United States but lost its gains after US data turned to worse. The currency is trading flat against some rivals and lower against others as of now.
The US dollar rallied briefly against its main forex counterparts as CPI and retail sales data released today beat expectations. Data released by the US Bureau of Labor Statistics indicated that the consumer price index for January was higher than expected by 0.1%.
The US dollar rallied against its major competitors today triggered by the hawkish tone taken by the Fed chairperson, Janet Yellen, during her testimony before the Senate Banking Committee. The Fed chair spoke clearly in favor of hiking rates multiple times this year saying that it would be unwise for the Federal Reserve to wait too long before raising rates to accommodate inflation.
The US Dollar climbed against its major peers on Monday, after a meeting between US President Donald Trump and Japan’s Prime Minister Shinzo Abe went smoothly over the weekend. The meeting did not yield any results that relate to the monetary policies of both nations.
The US dollar rose during the past trading week after several weeks of decline. Hopes for tax reforms in the United States and political uncertainty in Europe made the greenback appealing to Forex traders.
The US dollar deflated after the US consumer sentiment monitored by the Reuters/Michigan index was released at a record low missing forecasts by a large margin. The figures reported by the same index also indicated that consumer expectations were below consensus.
The US dollar today weakened against other major currencies given the lower bond yields witnessed in the markets and an empty economic docket. The greenback lost momentum in the early North American session due to the lack of major financial releases, or comments from US President Donald Trump.