Friday, February 23

Dollar in the world closed its best year since 2015

On track to achieve its best year since 2015, the dollar has been supported by an improving US economy and persistent inflation prompting an aggressive turn by the Fed, which is now expected to start raising interest rates. from March.

The best performance of major currencies against the dollar in 2021 was for the loonie, which was flat throughout the year, helped by expectations that the Bank of Canada will begin tightening its monetary policy in January.

Among the major currencies, the worst performer against the dollar was the Japanese yen, which is down about 10% this year.

The euro, which represents the largest weight in the dollar index, was down just over 7% in 2021, with analysts at Scotiabank projecting a weakening of the European Union currency next year.

The euro was down about 6% on the year against the British pound, as concerns in Britain about the economic impact of the pandemic boosted the British currency, and analysts expect further rate hikes from the Bank of England in 2022. .

While the British pound was at its highest against the euro since February 2020, it was down just over 1% against the dollar over the year.

On Friday, the euro was up 0.33% to $ 1.1362, while the British pound was up 0.21% to $ 1.3527. The yen fell 0.03% to 115.075 per dollar.

In cryptocurrencies, bitcoin rose 1.66% to $ 47,931.97, ending the year with a gain of around 65%, well below its November peak of $ 69,000.