THURSDAY: The dollar sat to end up its Year 2015 journey on a quieter notice with most of the traders checking out for this year. How did Dollar achieve its biggest gain? Well Thanks to Euro in this regard here – Year-to-date, the dollar (EURUSD), -0.3110% has gained nearly 11% against Euro. Moreover, the dollar was 0.4% bullish against the single currency on the day EUR= at a one-week high of US$ 1.0888. The dollar has lost almost 5% to the Euro in the past month and the dollar index almost 2%. Though many had predicted the Yen would weaken significantly against the greenback in year 2015, it has fallen less than 1%, stopping over a run of double digit annual depreciations since year 2011.
WEDNESDAY: Later the day, US Dollar showed flat against Euro at US$ 1.0916 versus US$ 1.0933 in New York and Crude cost slipped past 3.4% – a difficult year for commodity but analysts still expect fewer positive catalysts in the upcoming next year. Bearish Crude cost has crushed commodity-linked currencies for an annual record. The U.S. dollar (USDCAD) -0.1657% has gained nearly 20% to US$ 1.3894 along with an add-on of approx. 4% in December on individual scale, against Canadian dollar. Offshore rates for China’s yuan looked steadier, at 6.5700 Yuan/Dollar, having temporarily breaking through 6.60 yuan for the first time since the second half of year 2011.
“Dollar would struggle to resume its rally.” – Société Generale’s analyst
According to MarketWatch: on the ICE Dollar Index (DXY) +0.18%, a measure of the dollar against six major currencies was bullish with 0.02% at 98.27, barely moving as markets in Tokyo were closed for a public holiday. But with just hours to go until the door is shut on year 2015, the index shows the dollar has gained 8.8% for the full year.
