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Main » 2018 » May » 17 » The dollar index peaked in 2018; the yen and the Swiss franc also rose
The dollar index peaked in 2018; the yen and the Swiss franc also rose


The main US dollar index rose to a new high in 2018, as geopolitics again aroused fear among investors and drove the currency exchange rates.

What happens to the money?

ICE US dollar index rose 0.2% to 93,391, reaching a year high, despite the fact that over the past few sessions, he tried to rise.



A broader measure of the dollar, tracking the currency of cash 16, WSJ BUXX dollar index fell 0.1% to 86.87. 

The euro EURUSD fell to 1.1804 compared to 1.1837 on Tuesday in New York, which is the lowest level since mid-December. The euro also fell sharply against the Swiss franc and the Japanese yen, reaching a five-week low 1.1823 and a six-day low of 130.23 yen. 

Against the Japanese yen the dollar USDJPY was little changed to 110.33. The dollar exchange rate against the Swiss franc USDCHF reached 1.0013 Swiss franc. 

British pound GBPUSD exchange rate against the dollar was 1.3490 compared to 13505 Tuesday night in New York.

What is driving the market?

Global political developments have led to an increase in the financial markets. 

A North Korean official said that Pyongyang is not interested in the summit, in which the US focused exclusively on denuclearization and Washington accused of trying to "impose our worthy state destiny of Libya or Iraq." 

In a statement on Wednesday, attributed to a senior official of the Ministry of Foreign Affairs Kim Kyu-gwan, North Korea said it would not want to give up their nuclear weapons on the economic compensation or other benefits. 

It called into question the willingness of the North proceed with the planned summit with President Donald Trump in Singapore on 12 June.

Meanwhile, the dollar index rose amid falling euro, which accounts for the largest share index ICE. Traders are watching the developments in Italy, where it was reported that the anti-Soviet movement and the far-right League plans to ask the European Central Bank to forgive the debt of € 250 billion. 

FTSE MIB stock index in Italy fell by 2.3% on Tuesday. According to FactSet, the yield on 10-year Italian government bonds rose by 16 basis points to 2.113%.

What do they say strategists?

"Rising tensions in the Middle East and a possible strengthening of tension in North Korea, as well as falling stock markets and a big jump in the index of fear the VIX - all this gives a good background for the currencies that are considered" safe haven ", - said Marshall Gittler, chief strategist ACLS Global . "In particular, the speculators are willing to sell the euro, appears to have bought the Swiss franc." 


Based on materials WELTRADE



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