Breaking News

Forex- Dollar Struggles Near Three-Year Low

ForexJan 25, 2018 11:50AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. U.S. dollar was at a three-year low on Thursday.

Investing.com - The U.S. dollar continued to hold at three-year lows against other major currencies on Thursday, amid concerns over President Donald Trump's message at the World Economic Forum in Davos

The greenback weakened broadly after White House officials on Tuesday said that President Trump was planning on using his speech in Davos on Friday to underline his "America First" policies.

Such policies include a potential withdrawal from the North American free-trade agreement and disavowing the global climate change accord.

On Wednesday Treasury Secretary Mnuchin at Davos that the weaker dollar was positive for American trade.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.55% at a fresh three-year low of 88.53 by 11:47 AM ET (16:47 GMT).

Elsewhere EUR/USD was up 0.63% at a fresh three-year peak of 1.2489 after European Central Bank left its benchmark interest rate unchanged at 0.0% and confirmed that it will continue to purchase €30 billion ($37.2 billion) each month until “the end of September 2018, or beyond, if necessary.”

The pound was unchanged, with GBP/USD at a 19-month high of 1.4266.

The yen and the Swiss franc were higher, with USD/JPY down 0.46% at 108.72 and with USD/CHF shedding 1.05% to 0.9353.

Elsewhere, the Australian and New Zealand dollars were also stronger, with AUD/USD up 0.32% at 0.8086 and with NZD/USD gaining 0.45% to 0.7370.

Forex- Dollar Struggles Near Three-Year Low

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email