At the beginning of 2022, the dollar showed excellent momentum. In relation to the basket, in which 6 currencies of US partners traded, it was very powerful. But in recent days the currency has taken a “jerk” on the downside.
In the last 14 years there has been a record drop of the dollar, in two days, by 3%. Investors have been thinking about risky assets after seeing the US inflation report and learning about the easing of the quarantine in China, which is associated with the coronavirus.
According to the annual calculation, inflation rose by 7.7% in October. This is 0.3% less than what experts predicted.
US dollar on the market
On 11 November, the quotations of the US dollar were fixed at 106.38. Already at the beginning of the trading day, the indicator fell by 1.68%.
Extreme positions of the Index for the year:
The maximum grade was 114.78;
According to CNBC, for the same period, it was pegged at the 93.97 position.
Quotes were at 106.28 – 108.44 according to Yahoo! Finance;
At the same time, this is the best year for the US dollar index in 4 decades. It jumped 12% at the start of the year thanks to Federal Reserve policy.
Now the main goal is to curb inflation. Which this year has achieved a record. Citigroup believes it the dollar in the market has only strengthened, if there is an economic downturn. This currency is firm considered the safest.
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