US dollar completing this year with gains

The outgoing year was successful for the US currency - the dollar rate has noticeably increased against other major world currencies such as the euro, yen and pound sterling, while in the morning of the last session of the year it slightly grew against the euro and the pound and decreased against the yen.

The euro exchange rate against the dollar dropped to $1.0656 from the previous close of $1.0661, the dollar against the yen dropped to 132.51 yen from 133.01 yen. The pound sterling fell to $1.2051 from the December 29 close of $1.2052, while the dollar index (the rate against a basket of currencies of six US trading partners) rose 0.15% to 103.99 points

Since the beginning of the year, the dollar has risen in price by more than 6% against the euro. The negative factors for the European currency included the energy crisis, as well as the fear of a noticeable deterioration in the economic situation in Europe. In July, the euro was even cheaper than the dollar for the first time in 20 years.

The US currency has gained even more against the yen since the beginning of this year - a little more than 15%. The main reason for such dynamics was the difference in the actions of the Japanese and US regulators - while the US Federal Reserve raised the discount rate, the Central Bank of Japan kept it at a negative level. Nevertheless, at the end of the year, the yen slightly strengthened against the dollar.

The exchange rate of the British pound against the dollar has fallen by almost 11% since January. Foreign exchange investors assessed the risks to the British economy, as well as political uncertainty in the country. In September, the currency reached an all-time low of $1.0384 after former UK Treasury Secretary Kwasi Kwarteng suggested canceling the originally planned increase in corporate income tax.

The dollar index since the beginning of this year, in turn, has increased by more than 8%.





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