World's 8 major currencies' performance in 2017
The foreign exchange news website Forexlive tracked the performance of the world's major currencies - EUR (euro), GBP (Great Britain pound), AUD (Australian dollar), CAD (Canadian dollar), CHF (Swiss franc), JPY (Japanese yen), NZD (New Zealand dollar), USD (US dollar) - last year.
According to the news website's analyst Greg Michalowski, the euro was the strongest currency while the USD was the weakest.
By last Dec 29, the euro saw a cumulative 61.2 percent YTD (year-to-data) increase versus all the major pairs while the USD witnessed a cumulative 48.5 percent YTD decrease.
In 2017, the European Central Bank left interest rates on hold while the Federal Reserve raised rates them three times. The analyst said the Federal Reserve will raise rates three more times in 2018 while the European Central Bank will hold steady.
With the UK recovering from the 2016 Brexit, the GBP recorded a cumulative 25.5 percent YTD increase in 2017.
Here’s how the world's 8 major currencies performed last year.
8 USD
Cumulatively YTD percent change for the major currencies: -48.5 percent
