DXY tumbles to 3-months lows as dollar accelerates slide on last trading day of 2017


 

  • US Dollar drops further against European currencies, recovers modestly versus the yen. 
  • Last trades of the year takes place amid low volume and no new data. 

The US Dollar Index accelerated to the downside during the American session and reached the lowest level since September 22 at 92.17. As of writing it was hovering near the lows, headed toward the third daily decline in-a-row. 

The greenback has been moving with a bearish bias since mid-December and the trend accelerated during the last few days. The slide came without any particular driver. Quarter and year-end flows contributed to the slide of the US dollar. 

Low volume characterized the last week of trading of 2017. No key reports were released. Next week the economic calendar looks busy and includes on Friday the publication of the NFP report. 

DXY ends year under pressure

The DXY lost 10% during 2017 and charts show more potential to the downside. The monthly chart shows the index moving with a bearish bias and about to post the lowest close since January 2015. A rebound above 94.50 would be a positive development for the US dollar on the mentioned chart. 
 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

NZD/USD turns positive above 0.5700 after RBNZ Orr's presser

NZD/USD turns positive above 0.5700 after RBNZ Orr's presser

NZD/USD returns to the green above 0.5700 early Wednesday. The RBNZ's expected 50 bps interest rate cut to 3.75% in February and signals on future rate cuts weighed on the Kiwi before the pair rebounded on Governor Orr's press conference. 

NZD/USD News
AUD/USD keeps range near 0.6350, Fed Minutes eyed

AUD/USD keeps range near 0.6350, Fed Minutes eyed

AUD/USD trades in a range around mid-0.6300s early Wednesday. The cautious market mood, the RBNZ dovish rate cut and Trump's tariff threat-led US Dollar upside remain a drag on the Aussie. Focus shifts to the Fed Minutes amid trade war fears. 

AUD/USD News
Gold price remains close to record high near $2,940 amid trade tensions

Gold price remains close to record high near $2,940 amid trade tensions

Gold price treads water near $2,940 in the Asian session on Wednesday, remaining near the record high as worries that Trump's reciprocal tariffs could trigger a global trade war continue to act as a tailwind for the safe-haven bullion. Fed Minutes is next on tap. 

Gold News
Bitcoin stretches losses as CME premiums dip, Strategy aims to purchase $2 billion worth of BTC

Bitcoin stretches losses as CME premiums dip, Strategy aims to purchase $2 billion worth of BTC

Bitcoin continued its downward trend on Tuesday as K33 Research's weekly report indicated growing declines in BTC CME premium and yields. Meanwhile, Strategy announced plans to issue $2 billion worth of senior convertible notes.

Read more
Rates down under

Rates down under

Today all Australian eyes were on the Reserve Bank of Australia, and rates were cut as expected. RBA Michele Bullock said higher interest rates had been working as expected, slowing economic activity and curbing inflation, but warned that Tuesday’s first rate cut since 2020 was not the start of a series of reductions.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025