Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Indexes  >  US Dollar Index       

End-of-day quote. End-of-day quote  - 06/23
97.27   -0.33%
08:01pDJMARKET SNAPSHOT : Stock Market Climbs As Energy, Tech Sectors Stage ..
07:33pDJU.S. Stocks on Track for Weekly Gains
06:41pDJU.S. Stocks On Track For Weekly Gains
SummaryChartsNewsAnalysis 
News SummaryAll newsTweets 

Dollar Slips Against Emerging-Market Currencies

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 10:32pm CEST
By Ira Iosebashvili 

The dollar fell against emerging-market currencies Monday, as signals of a more-dovish-than-expected monetary policy from the Federal Reserve sent investors into higher-yielding assets.

The dollar was recently down 0.4% to 18.99 against the Mexican peso, the lowest level since U.S. elections in November. The U.S. currency also lost 0.7% against the South African rand to 12.63, its lowest since August 2015. Other currencies, including the Korean won, Indian rupee and Brazilian real, made gains against the dollar.

Driving the gains are expectations that the Fed will raise rates at a gradual pace. The central bank raised interest rates by a quarter point last week, but made few changes to its economic forecasts, suggesting that it hadn't grown more hawkish on monetary policy despite signs of a firming U.S. economy.

A rate increase in the U.S. would have lessened the attractiveness of emerging markets.

"We are seeing an embrace of high-yielding assets," said Kit Juckes, a strategist at Société Générale. "The danger is, some of these rallies have been in place for a long time."

The Wall Street Journal Dollar Index, which gauges the U.S. currency against a basket of 16 others, was recently down 0.1% at 90.46.

The dollar was also pressured by investor concerns that changes to U.S. trade policy could hamper growth.

World leaders struggled to find common ground on trade at the meeting of the Group of 20 industrial and developing nations over the weekend, as U.S. Treasury Secretary Steven Mnuchin got finance officials to drop a disavowal of protectionism from a closely watched policy statement.

The group's communiqué now ensures the U.S. can still use sanctions or other policy tools to punish trade partners and thwart economic policies the White House believes to be unfair.

"There is an idea that protectionism in general is not good for the U.S. economy or the dollar," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

Ian Talley contributed to this article

Write to Ira Iosebashvili at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on US DOLLAR INDEX
08:01pDJMARKET SNAPSHOT : Stock Market Climbs As Energy, Tech Sectors Stage A Rally
07:33pDJU.S. Stocks on Track for Weekly Gains
06:41pDJU.S. Stocks On Track For Weekly Gains
06:27pDJStocks Edge Up on Strength in Health-Care Shares
06:20pDJMARKET SNAPSHOT : Stock Market Edges Up As Nasdaq Aims For Weekly Win
05:02pDJMARKET SNAPSHOT : Stocks Close Mostly Lower As Financials, Consumer Staples Weig..
04:21pDJEnergy Stocks on Track for Worst Week Since February
04:20pDJMARKET SNAPSHOT : Stock Market Hunts For Catalyst, While Nasdaq Aims For Weekly ..
03:55pDJStocks Struggle to Find Traction
03:14pDJMARKET SNAPSHOT : Stock Futures Hunt For A Catalyst, With Nasdaq Poised For A We..
More news
Advertisement
Chart US DOLLAR INDEX
Duration : Period :
US Dollar Index Technical Analysis Chart | 4-Traders
Full-screen chart
Technical analysis trends US DOLLAR INDEX
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Technical analysis