Dollar Nosedives, Investors Indecisive

Dollar Nosedives, Investors Indecisive

It seems like the Dollar didn’t had its day on Friday as it dropped considerable, thereby putting to end the long rally against yen. It was reported that the euro was seen going up by 0.6% at $1.3164.

It is being believed that the U. S. inflation data could be one of the reasons which pushed the dollar down, thereby making it clear that investors are not so sure about how the economy is going to shape up in the time to come.

“First, it doesn't take much to reverse the USD buying trend, and second, lower inflation is a plus for risk-correlated currencies because it reduces risk of any near-term hiking move”, said Steven Englander, head of G10 strategy at CitiFX, a division of Citigroup in New York, who is of the view that this drop must be seen as a learning lesson which could help investors to make a decision about their future investment.

It is being believed that there could be simmering fear among the investors that there could be hike in interest rates in offing which has pushed the value of dollar down. The coming weeks are going to be crucial for investors to decide how they are going to ascertain the global economy.

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