Daily Market Update

US Dollar Falls, Equities Rise; 2017 Marked by Weakening

December 29, 2017

The U.S. Dollar’s end-of-year nose dive continues and the Bloomberg Dollar Spot Index shows the currency at its weakest in three months.

USD

Stocks continue to hit new record highs, a common theme throughout the year.

The Dow Jones closed yesterday at an all-time best, something that has occurred 71 times in 2017. The risk-appetite is not helping the “buck.” Happy New Year! We shall see what’s in line for 2018 starting next week.

 

EUR

The Euro is closing the year at its strongest level in 14 weeks. It ain’t no BitCoin, but the shared currency is surely popular as we close an eventful year in which it survived threats to its stability and existence. The foreseeable continuation of economic strengthening throughout the bloc is boosting its projections for much higher value going into the New Year.

 

GBP

Sterling has reached its best level in a month. Without deserving it, GBP has risen despite terrible news constantly coming from Parliament and Brexit talks. The resilient Pound may not see much further gain in 2018, but one thing is for sure: once the Pound falls, the recovery comes sooner than most predict. Short-lived dips and outstanding resurgence characterized the currency throughout 2017.

 

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