Dollar has been strong but 8 major currencies have been stronger this year


By Ben Winck
Business Insider, New York
Saturday, December 14, 2019

President Trump railed against the U.S. dollar's relative strength through much of 2019, but eight major currencies are on track to outperform the dollar this year.

The U.S. dollar index (DXY) is up roughly 1.2% in the year-to-date, surging in strength despite summer recession warnings and continued trade-war tensions. It performed best against the Turkish lira this year, a Bank of America note comparing major currencies said Friday.

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In July, Trump reportedly asked White House aides to look into ways to devalue the American currency. A weaker dollar would give the United States an advantage in international trade, but currency manipulation would also cut into the country's reputation abroad. Trump even criticized China for how its central bank allowed the yuan to slip below a key psychological level in early August.

Here are the eight major currencies that outperformed the U.S. dollar in 2019, ranked in ascending order. Performance is as of December 11. ...

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