The American dollar's value is not as strong as it used to be.
The American dollar has gotten lower in value when compared with other major currencies on the forex market. This comes amid the ongoing worries between the United States and North Korea.
The United States has been expecting some strong economic growth in recent time. This comes as consumer confidence has reached new highs while a new tax bill could potentially be passed although there are extreme concerns on both sides of the aisle over what that bill would contain.
The value of the American dollar has declined in particular when compared with many other currencies on the market. These include some of the more commonly traded currencies that are available for use on the forex market for various investment demands.
Forex Totals
The United States dollar index showed a decline of 0.15% to 93.06 as of the morning of Wednesday, November 29. The index measures the strength of the American dollar against a weighted basket of six other major currencies.
The decline suggests that the American dollar is not as valuable as it used to be as it is not going to exchange well into many other currencies. But the additional reviews over the value of the dollar suggest that the value when compared with other currencies has been rather varied over time.
The EUR/USD and GBP/USD pairs went up by around a quarter of a percentage point each. The Euro trade went to 1.1867 while the British pound is at 1.3399. This all comes as consumer credit growth in the United Kingdom has gotten to a new low in recent time. The USD/CAD pair went up by 0.12% to 1.2834.
The AUD/USD pair went down by 0.14% to 0.7584. The NZD/USD went up by a third of a percentage point and is close to the 0.70 mark.
The American dollar rate between the Swiss franc and Japanese yen remained around the same as it was a few weeks ago.
Fears Between the Countries
The main concern surrounding the United States dollar is whether the country can continue to stay in a safe place with regards to how it handles the ongoing situation in North Korea. This all comes as the North Korean regime continues to try and provoke the United States with recent actions.
There have been worries on the forex market over how the situation between the two countries will go along. North Korea has been testing many nuclear missiles with many of them potentially capable of striking Japan or even the United States.
Meanwhile, the Americans have been adding new sanctions against the country and have declared it a state sponsor of terror. President Donald Trump has also delivered several harsh rebukes of North Korean dictator Kim Jong Un and has even directly called him insulting names on many occasions.
Although strong economic growth continues to come about in the United States, it is uncertain as to where the situation with North Korea will go. Such concerns might place the country at risk of serious harm and therefore might place the status of the American dollar in jeopardy as it could be harmed.
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