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United States Dollar (USD) - BER Currency Guide

In this currency guide we look at :

  1. USD General Info
  2. USD Market View
  3. USD News & Updates
  4. USD Cross Rates

United States Dollar General Info

The three letter currency code for the United States Dollar is USD and the symbol is $. It is the domestic currency in United States, East Timor, Ecuador, El Salvador, British Virgin Islands, US Virgin Islands, Caribbean Netherlands, Turks And Caicos Islands and Zimbabwe.

Other nations besides the United States use the U.S. dollar as their official currency. For instance, Panama has been using the dollar alongside the Panamanian balboa as the legal tender at a conversion rate of 1:1. Ecuador, El Salvador, and East Timor all adopted the currency independently. The former members of the U.S.-administered Trust Territory of the Pacific Islands, which included Palau, the Federated States of Micronesia, and the Marshall Islands, chose not to issue their own currency after becoming independent, having all used the U.S. dollar since 1944. Two British dependencies also use the U.S. dollar: the British Virgin Islands and Turks and Caicos Islands. The islands Bonaire, Sint Eustatius and Saba, now collectively known as the Caribbean Netherlands, adopted the dollar on January 1, 2011, as a result of the dissolution of the Netherlands Antilles. The U.S. dollar is an official currency in Zimbabwe, along with the Euro, the Pound Sterling, the Pula, the Rand, plus several other currencies.

USD - Market View

The “big dollar trade of 2017” continues to crumble.

The trajectory for this year’s dollar trend was seemingly set in the first month when the currency recorded its worst January performance since 1987. “Start as you mean to go on,” as the saying goes.

The US Dollar Index (DXY) fell in six of the year’s first seven months and in early August it fell to a fifteen-month low of 92.55. Two weeks later it had recovered slightly to the mid 93s but this was still far from January’s high of 103.80.

With two weeks of August gone, the dollar was buying EUR 0.85, AUD 1.275 and CAD 1.27. It remained close to multi-month or multi-year lows against many currencies.

Analysts had been so positive about the dollar’s prospects at the start of the year, with one Citi Bank analyst describing a long dollar position as the “greatest FOMO [fear of missing out] trade of all time,” largely on the back of pledges by President Trump to implement highly inflationary policies, but midway through the eighth month of the year these policies were yet to materialize and the outlook for US inflation had taken a turn for the worse.

Remarkably, US CPI growth fell below analyst expectations for five consecutive months between April and August (data for March to July).

Concerns over inflation have cast a shadow over the previously accepted trajectory for US interest rates. In mid-August, the probability indicated by derivatives markets of a further quarter-point hike by the Federal Reserve in 2017 stood at just 35%.

USD/EUR - 19:00 EDT

1 Day  1 Week: United States Dollar was down against the Euro with the USD/EUR at 0.8492, a drop of -0.29% but remains up for the last 7 days with a rise of 0.34%.

3 Month Trend: USD/EUR is trading lower in the last 3-month range [Hi:0.8991, Lo:0.8412] and for the quarter is down -4.59%.

United States Dollar - News & Market Updates

United States Dollar – Wed Aug 16: USD Up vs INR and Down vs EUR, CAD, AUD, GBP, MXN & JPY.

United States Dollar was down -0.37% against the Euro, down -1.09% against the Canadian Dollar, down -1.41% against the Australian Dollar, down -0.18% against the British Pound Sterling, down -0.75% against the Mexican Peso, down -0.42% against the Japanese Yen, even against the Indian Rupee and even against the Philippine Peso. USD 7 Day Cross-Rate... View article >
Posted on 16 August 2017 | 9:07 pm GMT
Author: BER Research

EURUSD Boosted by GDP Data

EURUSD traded sideways, but well-above yesterday’s in the 1.1735 area until the European session opened.  Seasonally-adjusted, Eurozone Q2 GDP posted a 2.2% gain, topping the 2.1% that was predicted.  Eurozone nations also recorded better than expected GDP data, suggesting that the recovery is improving and is broad based. EURUSD bounced between 1.1692 and 1.1757 on... View article >
Posted on 16 August 2017 | 11:39 am GMT
Author: Agility Forex

Pound Subdued after Underwhelming Inflation Figures

Sterling GBP/USD 1 Week Chart The Pound (GBP) plummeted against the majority of its peers on Tuesday as the ONS reported that the UK’s inflation rate remained flat in July. Markets reacted poorly to the news as they believe the Bank of England (BoE) will see it as a signal to delay any plans for... View article >
Posted on 16 August 2017 | 9:23 am GMT
Author: TorFX

Yen Falls as Risk Appetite Returns

The yen fell by nearly a percent yesterday against the US dollar – its biggest one-day fall in six weeks – as investors regained their appetite for risk amid an easing of the tense situation surrounding North Korea. The yen, which has long been considered the FX world’s premier safe haven, typically falls in value... View article >
Posted on 16 August 2017 | 5:20 am GMT
Author: Joel Wright

United States Dollar – Tue Aug 15: USD Up vs EUR, CAD, AUD, GBP, MXN, JPY & PHP.

United States Dollar was up 0.34% against the Euro, up 0.23% against the Canadian Dollar, up 0.4% against the Australian Dollar, up 0.73% against the British Pound Sterling, up 0.22% against the Mexican Peso, up 0.91% against the Japanese Yen, even against the Indian Rupee and up 0.35% against the Philippine Peso. USD 7 Day... View article >
Posted on 15 August 2017 | 9:07 pm GMT
Author: BER Research

US Dollar Extends Gains

The US dollar opened in New York on a firm footing.  The greenback scratched out added gains against the majors, except for the Swiss franc. Sterling was lively albeit in thin markets due to a series of Assumption Day holidays throughout the Eurozone. GBPUSD traded with a negative bias in Asia and bias proved fortuitous... View article >
Posted on 15 August 2017 | 1:04 pm GMT
Author: Agility Forex

GBP USD at One-Month Low as North Korean Tensions Fade

Sterling GBP/USD 1 Week Chart The Pound (GBP) is trading robustly against the majority of its peers this morning as the UK government outlined its plans to seek an ‘ambitious new customs arrangement’ with the EU after Brexit. While it is unclear whether EU officials are likely to be accepting of such a deal, markets... View article >
Posted on 15 August 2017 | 9:44 am GMT
Author: TorFX

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