Dollar Index Hits 2019 High!
Synopsis
The Dollar index (DXY), which is an index of the USD against a weighted number of other currencies, reached a 2019 high, peaking at 97.13 on 13th February.
The Dollar index (DXY), which is an index of US$ against a weighted number of other currencies, reached a 2019 high peaking at 97.13 on 13th February.
This follows an 8 day rally loaded with hope and optimism that trade talks could reach some form of resolution. Spurred along by the plummeting pound and underperforming Euro, the USD was able to claw back the losses which it faced throughout December and January.
Meanwhile President Donald Trump goes on to declare a national emergency in order to secure funding for his wall. I am not to familiar with American pollical processes but surely there is a limit to executive power and legal requirements prior to billions of dollars being spent on a wall! $8bn is the small sum required to keep what is already a fairly secure border even more secure. Would people desparate for the American dream not just bury underneath I wonder?
Markets and the USD have not had time to digest this move and remain unaffected with trading positive and gains made across the major exchanges.
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