Japan's trade balance for February, which was released on Thursday, is a reflection of the less favorable implications of a rapidly depreciating currency, which has fallen over 22 percent
against the greenback in the past six months.
The euro was up 0.73 percent to $ 1.2032, on pace for its biggest single - day percentage gain
against the greenback in about two months.
China may have played an early card in this week's trade summit with the United States as officials pegged the yuan at the lowest levels
against the greenback in more than three months as the country's trade surplus swells to $ 58.25 billion.
The yuan lost
against the greenback in the previous day to as low as 6,5430 after the central bank changes two regulations on foreign exchange, seeming to indicate to let the yuan move more freely.
In fact, while our dollar has appreciated strongly
against the greenback in the past five years, it is trading within a tight range against other major currencies.
Not exact matches
Rate hikes
in the U.S. cause the
greenback to appreciate
against the loonie, which currently stands at around US77 cents.
The
greenback has climbed 4.28 percent
against the euro and a modest 0.43 percent versus the pound
in the same period.
The yen traded near 108
against the
greenback Monday morning, the Japanese currency's weakest level versus the dollar
in more than two months.
Russia's sovereign credit rating was recently downgraded by ratings agency Moody's, while its currency slumped to record lows
against the
greenback amid ongoing incursions
in Ukraine and the risk of harsher sanctions from the West.
The
greenback may lag further
against its peers
in 2018 as investors expected other major central banks to reduce their stimulus while the Federal Reserve has signaled it would raise interest rates further, analysts said.
«There is a bit of a risk - off undertone to markets here,» said Shaun Osborne, currency strategist at Scotia Bank
in Toronto, referring to the yen's performance
against the
greenback.
The recent plunge
in the value of the Canadian dollar
against the
greenback is more than temporary, most Canadians seem to think.
* The dollar index, which measures the
greenback against a basket of currencies, was little changed at 90.800, lower than 91.076 hit
in the previous session, its strongest level since Jan. 12.
Meanwhile, Ukraine's hryvnia has dropped nearly 80 percent
against the
greenback this year, to trade at 15,7085 per $ 1 on Monday, off last month's all - time low of 15,8817, weighed by tensions between government forces and rebels
in the country's eastern regions.
As I said, the
greenback's been on the decline for most of the year so far, but it slumped to a 13 - month low
against the euro last week following European Central Bank (ECB) president Mario Draghi's remark that «monetary accommodation» would continue
in the European Union (EU) until at least the end of the year.
In April however the single currency has fallen rapidly to a four - month low
against the dollar, with the
greenback buoyed by the U.S. Treasury yields topping three percent and expectations the Federal Reserve will further raise interest rates.
The Japanese yen is the overall winner
against the
greenback, underpinned by another bad day
in Wall Street.
Investors sold the
greenback against most major currencies, as the potential for an asset purchase tapering when the FOMC meets
in two weeks was diminished slightly.
The rise
in dollar terms is lower because the
greenback has strengthened
against the Chinese currency during the period.
As US consumer prices declined unexpectedly on a month - to - month basis, Treasury yields retreated, while the Dollar remained under pressure
against the Euro (although a break above 1.24 didn't happen
in the EUR / USD), while the safe - haven Yen regained some of its recent losses
against the
Greenback.
It is hard to remember now, but much of that $ 4 trillion
in IOUs was racked up when developing markets finance ministers blasted Washington for driving the
greenback down, and the Chinese yuan seemed poised to rise
against the dollar indefinitely.
Therefore the ECB can be considered more likely to hike relative to the Fed, leading to some possible interest rate differential induced strength
in the Euro
against the
Greenback.
When oil prices fall, the loonie typically follows suit, especially
against the
greenback as oil prices are denominated
in U.S. dollars.
Mumbai: The rupee firmed by 13 paise to 66.53
against the dollar
in early trade on Thursday on increased selling of the
greenback by exporters and banks.
With a couple notable exceptions, the consensus on the street appears to be that the single currency will rise to 1.25 or 1.30
against the
greenback by the end of the year, supported by accelerating economic growth
in the Eurozone and an end to the European Central Bank's (ECB) quantitative easing program.
The
greenback remained
in the 83 - yen range, its strongest level
against the yen since last April.
The
greenback, which had been
in a bull run
against the loonie since the middle of last year, touched nine - month highs of 1.3124 earlier
in March.
Over the past 12 - months the Canadian dollar has lost 15 % of its value
against the U.S.
greenback and today it dipped below the 70 - cent mark for the first time
in 13 years.
Given how low our dollar has fallen
against the
greenback, any suggestions for investing
in a US index?
The $ 10 rise
in the price of crude oil between the 1st and 22nd of August strengthened the Canadian dollar
against the
Greenback.
Peter Foster over at the Financial Post
in Canada has penned a pretty devastating take - down of David Suzuki's hypocritical crusade
against foreign money (American
greenbacks) finding its way into the coffers of Canadian non-profit groups.