Dollar Index: Week and Rate Increase

dollar index: The dollar index, which tracks the US currency against a basket of six major counterparts, was last down 0.2 percent at 102.72, according to Global Times China. It climbed as high as 103.56 last week. The Federal Reserve's interest rate forecasts released on Wednesday, after its widely expected rate increase, showed three more hikes in 2017, which fueled the dollar's rise to last week's highs. The euro was last up slightly at 1.0457, holding above a nearly 14-year low of 1.0364 notched last week. With the Christmas and year-end holidays coming, there is no incentive for investors to take new risks, and there is some profit-taking, so it is difficult for major currency pairs to move much, said Kumiko Ishikawa, FX market analyst at Sony Financial Holdings. The dollar was down 0.4 percent against its Japanese peer at 117.38 yen, taking a breather after climbing to a 10.5 month high of 118.66 yen last week. (news.financializer.com). As reported in the news.