US dollar retreats from 11-month high
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, the US dollar dropped from its 11-month high against a basket of currencies today following a rally over the past week that had been due to a rise in U.S. bond yields after the conclusion of the presidential election.
The dollar index dropped by about 0.2% to 99.989, from Tuesday’s level of 100.26, the highest level in eleven months. On Tuesday, the dollar index increased 4.6% due to stronger US October retail sales.
"The most important factor remains what kind of policies Trump enacts,” Kadota said, chief Japan strategist in Tokyo.
Meanwhile, the euro increased 0.2% and the sterling rose 0.1% against the dollar.
The dollar index dropped by about 0.2% to 99.989, from Tuesday’s level of 100.26, the highest level in eleven months. On Tuesday, the dollar index increased 4.6% due to stronger US October retail sales.
"The most important factor remains what kind of policies Trump enacts,” Kadota said, chief Japan strategist in Tokyo.
Meanwhile, the euro increased 0.2% and the sterling rose 0.1% against the dollar.
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