Dollar recovers from two-week lows

- Reuters, LONDON

Jan 3, 2017-

The dollar recovered from a two-week low against a basket of six major currencies on Monday, though trade was thin due to many markets being closed for the New Year holiday. The greenback soared to 14-year highs in December, boosted by market expectations that the US 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. The euro edged down on Monday to $1.0513, while the dollar index climbed quarter of a percent to 102.43, close to the 14-year peak of 103.65 it touched on Dec 30.

Published: 03-01-2017 09:09

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment