The safe-haven dollar lost momentum on Tuesday, returning to yesterday's lows around 92 against most major currencies as risk appetite remained buoyed on news that the Trump Administrations began an orderly transition of power. The move, which came twenty days after the election, coupled with progress towards an effective coronavirus vaccine boosted hopes for a swifter economic recovery, driving investors into riskier currencies, such as the New Zealand and Australian dollars. On the bullish side, the contrast between the US and eurozone PMI readings raised prospects of firmer economic growth domestically, giving some support to the greenback.
Historically, the United States Dollar reached an all time high of 164.72 in February of 1985. United States Dollar - data, forecasts, historical chart - was last updated on November of 2020.
The United States Dollar is expected to trade at 96.06 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 97.33 in 12 months time.