A Small Step Back for the US Dollar

DollarThe US dollar has been on an extremely strong run of late which has seen many investors real in some very big profits on their investments. Recently the US Dollar has experienced highs that it has not seen in over 11 years. But that rising trend came to a halt for a few days due to an unexpected drop in US retail sales. Experts expected that trend to slightly continue based on the fact that no new economic news was forthcoming.

The dollar retreated against both the Japanese Yen and Euro after experiencing 12 year highs of 121.34 and $1.0613 against them respectively. Part of this was due to the Eurozone’s 1 trillion euro bond sale going into effect. Investors are eagerly awaiting the results of several US Federal Reserve meetings which will take place in March to see how they will invest next. Most investors expect a mid-year interest rate hike to come into effect.

In the meantime, other countries are about to release their own economic data. Canada was one country expected to announce a good economic report, but not as good as their 35 thousand job gain in January. Although the Canadian Dollar strengthened against the US Dollar ever so slightly, this trend was not expected to continue much longer.


John Miller
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John Miller

John Miller is the main author of content here at 7 Binary Options. He’s also the brand’s lead investment consultant. He’s been working for 7 Binary Options since April 2014 and brings a wealth of knowledge and experience to his role. He’s played a crucial part in developing the site and helping it grow. In his role as writer and consultant, John’s keen to help others get ahead in the ever-changing world of binary options and forex trading. He’s always happy to advise others, whether it’s complete beginners learning the ropes or more experienced traders looking for some hints and tips. John certainly knows what he’s talking about. He graduated from California State University in 2008 with a Master’s Degree in Investments and Securities. Since entering the world of work, he’s continued to put his degree to use. He’s spent over a decade working in the investment banking sector and thanks to his foresight, skills and education, he’s in a prime position to offer help to others looking to start investing.