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.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Upsurge continues to wreak havoc on Turkey’s PP, PE markets
- PVC rally roars back in Asia as supply worries mount
- China PP, PE markets join global rally after Lunar New Year holiday
- PE, PP and PVC supply crunch exacerbated on US absence, traditional trade flows upended
- European PP, PE markets set for 5th bullish month as shortage bites
- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
