Dollar Index Breaks Free Of Three Year Low – 21 February, 2018

The Bloomberg Dollar Spot Index reached a high in over a week against a basket of major currencies, breaking out of a three year low it hit on February 13. The Dollar index reached as high as 90.166 and settled at 90.117, a 2.2 percent gain from the 88.25 it dipped to last week. The changes came after the Federal Reserves January meeting minutes showed policy makers are confident in the need to continue to increase interest rates. Despite this rise, the Dollar slipped 0.4 percent to the Yen, landing at 107.35 Yen, but gained against the Euro by 0.1 percent to $1.2270.