Dollar Gains Ground in September After 6-Month Losing Streak

By Paul Riegler on 1 October 2017
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The U.S. dollar staged a slight comeback in September.

After falling 9% since the inauguration of Donald Trump in January, the US dollar index – a basket of six peer currencies – was up 0.7% in September.

The euro fell sharply at the start of the last week of September as markets tried to take in German Chancellor Angela Merkel’s newly diminished authority. The euro closed at $1.18 for the month.

The British pound, however, climbed in September and reached its highest level against the dollar since the 2016 Brexit referendum mid month, but then fell sharply as it continued to struggle against a strong dollar, closing at $1.339.

In Tokyo, the dollar slipped below ¥112 at the start of the final week of the month but closed at ¥112.46 for the month.

(Photo: Accura Media Group)

Accura News

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