Yesterday the dollar index which is a form of a scale that measures dollar against other six major currencies fell down by half a percent which was the lowest point for the it since the beginning of December.

2017 proved to be not as good for the greenback currency as was expected. Predictions were built on the hopes that newly elected President Trump would have a positive influence on American national currency and stimulate its growth. Instead, Trump wasn’t successful in bringing his initiatives to life and, as a result, the National Banks around the globe implemented changes which lessened the divergence between American Federal Reserve and the rest of world.

US government tried giving dollar some support by pushing through a tax cut, but the problem with this plan is that most of the people will only feel the effect from the cut in the end of 2018. MUFG macro strategist Derek Halpenny, in London says, “The flattening of the U.S. yield curve is highlighting the fact that the market is not getting too enthusiastic about growth prospects for 2018, despite the tax reform legislation being signed,”.

Meanwhile, Euro rose up to $1.1946, which is highest in December. Unlike for dollar, 2017 was very good for the EU currency – it has gained more than 13% of its value and it has become the best performance for Euro since 2003.