The US dollar has officially given up all its post-election gains
Business Insider
Published May 18, 2017 08:19AM ET
Updated May 18, 2017 09:31AM ET
The dollar has officially given up all its post-election gains.
The said .
"It is not sufficient to boost confidence that the Trump Administration's economic program is back [on] the front burners, but it is sufficient to stem the time for the moment."
The greenback climbed to a 13-year high after US President Donald Trump won the election in early November, and hit 103.01 in December. At least part of that appreciation was attributed to markets reacting to Trump's proposed fiscal policy initiatives. However, the index has been slowly giving up those gains over the last few months.
As for the rest of the world, here's the scoreboard as 8:08 a.m. ET:
- The euro is lower by 0.3% at 1.1126 against the dollar.
- The British pound is up by 0.5% at 1.3034 against the dollar.
- The Japanese yen is stronger by 0.2% at 110.66 per dollar.
- The Russian ruble is down 1.6% at 57.9887 per dollar.
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Written By: Business Insider
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