Opening
Is anyone watching the Euro? Or the Dollar for that matter? In case you are wondering, the Euro this morning is trading at 1.0435. The Dollar Index is at nearly 103. The Dollar strengthened tremendously over the past several weeks, and with the Fed rate hike last week, it is likely that doesn't change anytime soon.
The Dollar Index is up from around 95 at the beginning of September; that is an increase of nearly 8.5%. Meanwhile, the moves in the Euro and Yen have been even greater. The Yen has surged from approximately 100 to 117, while the Euro has gone from 1.13 to 1.04. Big moves, the Dollar is 17% stronger against the Yen and 8% stronger against the Euro.
The emerging market currencies have also had their struggles against the Dollar since September. The Singapore Dollar has weakened nearly 7.5%,