Sentences with phrase «dropped against a basket of currencies»
Today we are going to report about the USD after it dropped against a basket of currencies.
http://www.forexfloor.com/ Not exact matches
NEW YORK, Dec 29 - The dollar fell to its lowest in over three months against a basket of major currencies on Friday, on track for its biggest annual drop since 2003, on doubts over durability of a pickup in U.S. economic growth in wake of last week's tax overhaul.
NEW YORK, Dec 29 - The dollar fell to its lowest in over three months against a basket of major currencies on Friday, marking its steepest annual drop since 2003, on doubts over durability of a pickup in U.S. economic growth in wake of last week's tax overhaul.
A few dollar - denominated commodities moved higher on Friday in response to a weaker U.S. Dollar, a drop in U.S. Treasury yields and softer - than - expected U.S. economic data.The dollar was pressured against a basket of currencies after the initial reading on first - quarter gross domestic product came in at 2.3 percent.
Given that VEA is denominated in US dollars, but actually reflects a basket of other currencies does that mean that if the US dollar went up by 10 % against the weighted basket of foreign currencies in VEA then the ETF share price should drop by 10 % (assuming no change in the underlying value of the foreign holdings)?
If I understand your response then my response is correct that in the hypothetical scenario that all things stayed fixed (NAV of foreign holdings in native currencies) and the US dollar jumped 5 % against all of the foreign currencies then the foreign ETF should drop 5 % because it would take 5 % fewer US dollars to buy the same basket of foreign stocks.