Currency strategists gave weaker exchange rate forecasts for major emerging countries such as China, Brazil, South Africa and Turkey in the monthly survey, pointing to a sixth straight year of
dollar gains against most high - yielding currencies.
«The bigger picture is still going to favor
dollar gains against these currencies,» Simon Smith, chief economist at FxPro, told CNBC on Friday.
Not exact matches
For foreigners investing in Japanese stocks, the yen also poses a challenge, analysts said, with the rapid depreciation in the currency — which has fallen 14 percent
against the U.S.
dollar in the past three months - mitigating
gains in the market.
The
dollar, measured
against a basket of currencies, has now given up more than half of the
gains it notched up this month when investors rushed into the greenback as equity markets suffered a violent sell - off.
Crude oil is holding on to recent
gains at just below $ 48 a barrel, and the
dollar is a touch stronger
against the euro.
NEW YORK, Jan 3 - The U.S.
dollar extended
gains against key currencies on Wednesday after the release of minutes from last month's Federal Reserve meeting, while world shares smashed records on investor optimism in the new year.
U.S. stock index futures pared
gains on the data, while the
dollar slipped
against a basket of currencies.
Bitcoin rose over 1,500 %
against the
dollar last year, while other smaller digital coins enjoyed similar
gains.
The
gains came despite a higher
dollar, which is at its strongest since Jan. 11
against a basket of currencies.
In the past six months, the euro has
gained about 8 percent
against the
dollar, 10 percent versus the British pound and soared 28 percent
against the yen.
While holders of Swiss francs
gained, those with sizeable holdings of euros or
dollars against the franc would have suffered heavily.
In 2015, the
dollar enjoyed its fastest rise in 40 years, and it continues to
gain steam
against the world's other major currencies.
Uncertainty about the U.S. presidential race in the near term may produce periods of volatility for the U.S.
dollar, yet RBC maintains that the U.S. currency will post modest
gains against the Euro, Canadian
dollar and sterling as markets look for a U.S. Federal Reserve policy rate increase in the first half of 2017.
The euro has been on a steady rising path since mid 2017, reaching a more than three - year high
against the
dollar in February and capping
gains for European stock markets.
In the context of China's expanding influence and attempts to
gain competitive advantages
against the United States, the report notes that «China is investing billions of
dollars in infrastructure across the globe» as it «exploits data on an unrivaled scale and spreads features of its authoritarian system.»
After a two - day rally, the offshore renminbi rose as much as 2.5 percent, to 6.7853
against the
dollar on Thursday, an exceptional
gain for a currency that is usually subject to staid trading.
The Japanese yen
gained 0.32 percent
against the US
dollar at midday Wednesday, changing hands at 112.22 per
dollar.
Elsewhere in forex markets, it's a relatively calm day, with a slight correction in the risk - off trade that we have been monitoring for weeks, as the yen is a tad lower today
against all of its major peers, while the
Dollar couldn't
gain on risk - on currencies, despite the equity weakness.
Ether could dominate and
gain further
against the US
dollar and bitcoin.
But should those currencies appreciate
against the
dollar, you'll reap a
gain.
Key Highlights Ripple price
gained a lot of traction recently and is comfortably placed above $ 0.8600
against the US
dollar.
Key Highlights Ripple price extended
gains and moved above the $ 0.8500 level before correcting lower
against the US
dollar.
It may have
gained against the US
dollar in the run - up to Trump's election, but in the two months since it has depreciated.
The pound has surged to a five - month high
against the
dollar and global stocks
gained for a fourth day on Wednesday, with the U.K. benchmark index erasing its monthly decline.
Ripple price extended
gains and moved above the $ 0.8500 level before correcting lower
against the US
dollar.
The greenback also has
gained steam
against the Indian rupee and remained historically strong
against the Australian
dollar based on early March metrics.
The U.S.
dollar posted rare
gains against a basket of rival currencies after New York Fed President William Dudley said interest rates are on track to rise gradually.
The foreign exchange market saw the U.S.
dollar depreciate
against the Canadian
dollar in Q1 2017, losing -0.6 per cent compared to a Q4 2016
gain of 2.0 per cent.
The
dollar may be nearing its peak, and poll forecasts point to a slower pace of
gains against most currencies in 2016.
Sterling rose on Wednesday, extending
gains from earlier in the day as better - than - expected construction PMI data calmed investors after a selloff that took the currency five percent lower
against the
dollar in two weeks.
In 2016, the net foreign exchange
gain was # 2.3 million, primarily as a result of the unrealized
gain on translation of cash deposits held primarily in U.S.
dollars at year end, reflecting a strengthening of the U.S.
dollar against pounds sterling during the year.
The Japanese yen
gained 0.62 percent
against the US
dollar at midday Friday to 111.75 per
dollar.
The Japanese yen
gained a slight 0.06 percent
against the US
dollar at midday in the Asian trading session on Wednesday.
The Australian
dollar gained 0.02 percent
against the US
dollar.
Factories reported the smallest
gains in both total goods orders and export orders for a year - and - a-half during April, the latter in part dampened by the recent strength of the euro, notably
against the US
dollar.
The Japanese yen
gained 0.12 percent
against the US
dollar at midday on Wednesday.
Although the
dollar gained ground
against higher - yielding currencies and assets then, bitcoin was also able to advance.
Key Highlights Ripple price is
gaining pace and it recently moved above the $ 0.2050 resistance
against the US
Dollar.
The pair is on the move and it could extend
gains above the $ 0.3600 resistance in the near term.Cardano price
gained made good
gains against the US
Dollar and Bitcoin.
The Japanese yen
gained 0.14 percent
against the US
dollar as Tokyo trading ended on Thursday, changing hands at 110.88 per
dollar.
The process of devaluing of the RMB
against the
dollar, which began last August, seems to be
gaining momentum.
The U.S.
dollar pared
gains against a basket of major currencies on Friday after data showed the U.S. economy created fewer jobs than expected in December.
It is hard to post US
dollar revenue growth when half of your revenues comes from offshore and your currency
gained 12 %
against other currencies during the same year.
Operating expenses rose 2 percent on higher fuel costs, which increased because of a 9 percent
gain in capacity and the weakening of the ringgit
against the
dollar, the airline reported.
If the yen falls 1 %
against the
dollar, then your hedge
gains 1 %.
Litecoin price
gained further and tested the $ 155 resistance
against the US
Dollar.
Litecoin price is slowly
gaining upside momentum above $ 115
against the US
Dollar.
In the last few days, the Mexican peso has hit all - time lows
against the U.S.
dollar as Trump appeared to
gain momentum in election polls.
If the Bank holds steady, the British pound should out perform on the crosses and hold its recent
gains against the
DOLLAR.
The trend is showing a bright future as this coin is
gaining value
against Canadian
Dollar.