Since Christmas is nearing let’s share some good news. The dollar which was declining from past 3 weeks has suddenly risen making all of them happy. The U.S dollar rose yesterday by 0.5 percent against the Euro, 0.3 percent against the Pound, and 0.4 percent against the Yen.
The sole reason why the dollar rose is ---yesterday there was a sharp rise in the U.S retail sales, which saw the investors looking back for hard landing in the U.S economy. Since July, the sales have rebounded by one percent in November—which is the biggest increase till date.
On the other hand, the stocks like Dow Jones Industrial Average set a new record high of 12,368.61 shortly after the start of trading but closed at 0.02 per cent. The S&P 500 rose 0.1 per cent, while the Nasdaq Composite was 0.03 per cent higher.
In my opinion, the U.S dollar will rise more in the coming days because Christmas fiesta may do some magic….. Let’s see.
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