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Dollar suffers biggest monthly loss since 2010!

The U.S dollar  is headed for its biggest monthly decline in more than a decade!

The greenback is on track to end November with its biggest monthly loss in over a decade

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DowJones chart on USD fluctuation

The WSJ Dollar Index, which measures the greenback against a basket of other currencies, fell 4.2% this month through Tuesday. That would mark its largest monthly percentage decline since September 2010, according to Dow Jones Market Data. It ticked higher as of Wednesday morning.

  • The British pound has risen about 4.7% against the dollar this month to around $1.20.
  • The euro has gained about 5%, putting it soundly above parity with the greenback. It recently traded at about $1.03.
  • The Japanese yen has rallied 7% this month, with $1 now buying roughly 139 yen.

The greenback has soared this year as the Federal Reserve embarked on its most aggressive policy tightening-campaign in decades. Higher interest rates typically make a currency more attractive to investors.

The WSJ Dollar Index remains up more than 10% for the year but has pared gains in recent weeks as investors bet that the Federal Reserve will slow the pace of rate-increases in the months ahead. Data suggesting U.S. inflation is slowing also weighed on the U.S. currency and allowed the beaten-down currencies of other countries to claw back some losses for the year.



Image:USD currency