MonexThe USD rose to its highest level since November 2022 on Monday, supported by year-end fund flows. The Japanese Yen led the G-10 currencies against the USD.
The Bloomberg Dollar Spot Index rose 0.1%, bringing its year-to-date gain to 7.6%, on track for its best performance since 2015.
At one point, it rose 0.3%, hitting the highest level since 2022.
MonexForex tradingAnalyst Helen Given stated that "year-end rebalancing" supported the Dollar.
The USA stock market will be closed on January 9 to mourn former President Carter, and the bond market will close early.
SIFMA recommends that the USA fixed income market closes early on January 9.
USD/JPY fell by 0.6% to 157.00, and Japan will be closed for the remainder of this week.
EUR/JPY once dropped by 1.1% to 162.81.
The yen appreciated against all G-10 currencies, with the largest gains against the Danish krone, euro, and Swiss franc.
USD/CAD fell by 0.4% to 1.4360, and the Canadian dollar has dropped about 7.8% against the USD year-to-date.
EUR/USD fell by 0.2% to 1.0403.
Robert Holzmann, a member of the European Central Bank's Governing Council, stated that if the inflation risks brought about by rising Energy prices or further depreciation of the euro materialize, the European Central Bank may consider waiting longer before the next interest rate cut.
GBP/USD fell by 0.2% to 1.2550.
