But the index that measures the currency against six major rivals lost more than 1 percent during the last three days of last week .DXY, its weakness exacerbated on Friday during a flash surge for the euro in low volumes of trading in Asia. The single currency jumped two full cents to as high as $1.07, before quickly retreating, prompting analysts to draw parallels with a "flash crash" in October that briefly knocked almost 10 percent off the value of Britain's pound.
USD rebounds in a tight Monday holiday trading
The dollar recovered from a two-week low against a basket of six major currencies on Monday, though trade was thin with many markets closed for the New Year holiday. The greenback had soared to 14-year highs in December, boosted by market expectations that the U.S. Federal Reserve will hike rates as many as three times this year, and that President-elect Donald Trump will stoke growth and inflation with a programme of fiscal expansion. The dollar finished the year with an almost 4 percent annual rise, the fourth consecutive year of gains.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419