U.S Dollar is Skidding

The dollar suffered major slides on Thursday, due to poor business in U.S. The Euro continues to hit the list at the top and it again rose 0.7 percent against the dollar to $ 1.3247. The sterling, the pound, and the yen are also leading against the dollar. A report stated that inflation benchmark in U.S was held steady in October at 2.4% year to year. Data suggested further inflation-fighting interest rate rises which could support the dollar, were even less likely to be needed.

Since, U.S dollar is declining day by day; the factor of risk aversion in fellow traders is increasing rapidly. The risk of short-term dollar weakness may now be greatest against the yen.

In my opinion, eventually from the past 10 days, the U.S dollar is declining rapidly. Now the question is does U.S dollar gains its stability in future? The capricious markets know the answer better than we, the people.