The Weakening of The Dollar Crashes Out For 4 Months.
Ending the fourth day forex trading this week, Friday, early this morning (4/02) weakening US currency is getting worse to fall into the deepest abyss of the weakening 4 months. thus encouraging the strengthening of rivals except against sterling. Deepens the sentiment that the dollar's decline came from a bad night and let him down economic data released overnight.
US Dollar previously burdened by the statement of the New York Fed President William Dudley said the Fed is difficult to continue its expansion on the interest rate of the country in 2016, to gain weight by the jobless claims data and US factory orders data.
US weekly jobless claims data for the period ended January 28, 2016 data shows the increase of citizens filing for unemployment benefits increased from the previous period and also exceeded expectations for a rise of data by economists. While data factory orders in December fell to its lowest level in one year.
The downfall of the dollar against its rivals are most severe in its main rivals such as the euro and the yen, the dollar bad sentiment that plagued directly used as the exchange rate to continue to rally the previous trading. Of the minor rival, just pounds who can not take the chance, the article already disappointed the market with the result that the BOE's decision not to raise interest rates and cut its growth outlook for the UK economy.
For commodity currencies like the Australian dollar, the Canadian dollar and the Kiwi dollar still managed to show strong performance overnight trading despite crude oil prices again showed weakness alias prices plummeted from the previous trading.
The dollar index, which measures the strength of the US dollar against major currencies ended declined to continue the previous trading which has weakened 4 consecutive days. The charm of the key global currency is fading after the Fed raised interest rates late last year, in contrast to market expectations will become stronger.
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