The US dollar declined against most of its main peers on Friday, which drove an index that tracks the greenback’s strength to its lowest level since November 9 earlier today before partly erasing some of its losses. The US currency was weaker today following a report on gross domestic product growth in the United States, which revealed data that fell short of expectations.
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 strengthened against the euro and fell against the British pound, the Canadian dollar, and the Japanese yen on Thursday. The greenback struggled for direction following a number of economic releases in the United States that revealed mixed data today, which raised uncertainty about the stability of the economic recovery.
The US dollar declined to new lows today after the release of a raft of economic reports from the US economic docket. Today’s economic releases include the consumer confidence index, the house price index, the new homes sales report and the S&P/Case-Shiller US home price index.
The US dollar strengthened against the euro on Friday, following the release of positive data for the US housing sector. Investors are keeping a close eye on the French presidential election on Sunday, which weighed on the shared currency and gave way for the greenback to score more gains today.
The US dollar remained weaker against the euro on Thursday as traders digested a disappointing report on manufacturing activity in the Philadelphia region, which was released earlier today. However, an index that tracks the strength of the greenback rose as the US currency improved against a number of its major peers.
The US dollar rallied today, though the gains were limited as rising geopolitical tensions were not adding to the appeal of the currency, despite its role as a safe haven.
The US dollar weakened against the euro and the British pound among other major currencies on Tuesday, as geopolitical developments around the globe continued to weigh on the US currency. Economic data in the United States failed to support the greenback today, as a new housing report painted a mixed picture of the real estate market.
The EUR/USD currency pair rallied higher today given the weaker US dollar as tracked by the US Dollar Index and the stronger euro. The currency pair rallied higher as the US NAHB housing market index and the Empire State manufacturing survey both registered disappointing figures.
The US dollar weakened against most of its major peers on Friday, as investors felt disappointed following the release of two economic reports that were expected to reveal stronger data. Trading was thin today as markets in the United States, Canada, the United Kingdom and Australia closed for the Good Friday holiday.
The US dollar rose against the euro and the British pound on Thursday, to erase some of the losses it had yesterday following remarks by President Donald Trump that the greenback is too strong. Trump had added that he believes the Federal Reserve should keep interest rates low, with the aim of avoiding further gains in the US dollar.