The dollar suffered significant losses yesterday, and is on track to record an annual decline after two years of strong gains, with markets affected by expectations of the Federal Reserve cutting interest rates next year.
The dollar index fell to a 5-month low of 100.81. The index fell 0.5% the day before yesterday and is heading towards a 2.6% decline this year, ending two consecutive years of strong gains. The euro increased 0.09% to $1.1113, to remain below the highest level in five months at $1.1122, which was recorded the day before yesterday.
The single European currency is heading for annual gains of 3.7% in its strongest performance since 2020. As for the British pound, it reached $1.2813 in the latest trading, its highest level since August 10. The pound is heading for a 6% gain this year, its strongest performance since 2017.
In Asia, the Japanese yen rose 0.23% to $141.50, approaching a 5-month peak of 140.95. Over the course of the year, the yen fell 7% against the dollar.
2023-12-28 22:05:29
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