American Dollar rallies, as market absorbs post-Fed losses

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American Dollar rallies, as market absorbs post-Fed losses

The American Dollar posted a gain on Friday, the 21st of December, as the Investors had been expecting a tranquil USD, while US stocks were tearing apart, in the face of a possible US government shutdown. The American dollar had been falling for two straight days, since the announcement of fourth rate hike from US FED.

However, as market has absorbed the pressure, the “inevitable” started to appear and the American dollar seems to be stronger than ever before, backed by a strong economy and an increased interest rate. Despite, overall market anxiety, the Japanese Yen gained markedly against American dollar and yen had posted its best weekly performance against all major currencies since February.

Later on, Friday, the 21st of December, the US president Donald Trump commented that there had been a greater chance that, the senate might not approve his demand of $5 billion for funding the border wall project, as a government shutdown had been knocking.

Amid the news of government shutdown, the US stocks tumbled terribly and posted their worst December in 80-year time-frame, as the S&P alongside, Dow Jones Industrials had been whirling closer to bearish market, and Nasdaq composite confirmed a complete bearish turnaround, while the American dollar had surfing in a safe haven above 96.50, and an upwind move towards 97.50-98 region might come aboard next week.