Dollar at most 8 months against rivals
Nov 21 2017, 00:00
The dollar remains up against the other major currencies this Monday, buoyed by expectations of a rate hike before the end of 2016. EUR / USD is stable at 1.0876, close to the seven-month low of 1.0857. The greenback was strengthened following statements by New York Fed President William Dudley made last week, according to which the US central bank will increase interest rates during the year if the economy remains in the current trajectory. Growing expectations of a victory for Hillary Clinton in the US presidential elections also fueled expectations for a rate hike in December. On the single currency, sentiment remains fragile after ECB President Mario Draghi indicated last week that the stimulus program could increase in December. GBP / USD is down 0.20% to 1.2204, while USD / JPY is up 0.11% to 103.89. The US dollar index, which tracks the trend of the greenback against a basket of six other major currencies, is up 0.10% to 98.72, just below the eight month high of 98.82 touched in the overnight.