Dollar hits nine-year high against major currencies

Posted on: Dec 17,2014

Last week, the US Dollar reached its highest point in nine years against the major currencies supported by further strength from the US economy’s outperformance and the diverging outlook for monetary policies among major economies. The currency started the New Year with a strong footing after closing 2014 with a 13% surge, the best annual performance for the greenback since 1997. The Dollar index rose to 90.62. The gap between the US Federal Reserve’s path toward rate hikes and simulative policies in Europe and Japan