Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Forex - U.S. Dollar Pulls Back From 18-Month High

Published 12/17/2018, 10:11 AM
Updated 12/17/2018, 10:11 AM
© Reuters. - The U.S. dollar pulled back from an 18-month high on Monday after disappointing economic data.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.2% to 96.69 as of 10:10 AM ET (15:10 GMT), after an overnight high of 97.69.

The Empire State manufacturing index was lower in December, adding to concerns over the health of the U.S. economy. The reading was at 10.90 from 23.30 in November, the New York Fed reported on Monday.

Meanwhile, investors are looking ahead to Wednesday when the Federal Reserve is expected to increase rates by 25 basis points for the fourth time this year. Chances of a hike were priced in at 77.5%, according to's Fed Rate Monitor Tool.

Still, investors remain uncertain of the number of rate hikes in 2019 after dovish comments from Fed officials, who hint that interest rates are nearing neutral.

Comments on Monday from U.S. President Donald Trump added to the uncertainty, as he continued to criticize the pace of Fed hikes.

The dollar was down against the safe-heaven Japanese yen, with USD/JPY slumping 0.4% to 112.95.

Meanwhile, the pound was higher despite Brexit woes, with GBP/USD up 0.2% to 1.2607.

The euro was pushed up by the lower dollar, with EUR/USD rising 0.2% to 1.1332.

Elsewhere, NZD/USD increased 0.1% to 0.6806 while AUD/USD inched up 0.03% to 0.7179. The Canadian dollar decreased with USD/CAD up 0.1% to 1.3405.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.