The dollar index , which measures the greenback against six rival currencies, fell to a three-year low of 90.934 on Friday. The index ended 2017 down nearly 10 percent, its worst annual showing since 2003.
Concerns about economic growth and political stability have hurt the U.S. dollar and continue to weigh on its outlook, Alfonso Esparza, senior currency analyst at OANDA in Toronto, said.
Investors are also paying close attention to the inflation scenario, which so far has been lackluster, Esparza said.
The U.S. central bank’s preferred inflation measure, the personal consumption expenditures price index excluding food and energy, has missed its target since May 2012.
The net long position in the euro grew to 144,691 contracts, a fresh record, the data showed.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.