Forex Preview: Dollar Hovers Near One-Month Low

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1. Dollar Hovers Near One-Month Low
The dollar languished close to one-month lows on Friday, after a collapse in oil prices, a sell-off in equities and a threat of another U.S. government shutdown. A day after the Federal Reserve raised policy rates and delivered rather hawkish stance, the dollar index unexpectedly dropped almost 1 percent for the week. The U.S. currency under-performed particularly against the yen as global stock markets sank as investors worried about the Fed’s plans to continue raising rates despite heightening risks to growth. The dollar, which began the week above 113.00 yen, was last seen trading 0.2 percent lower for the day at 111.09 as of 8:37 GMT.*

2. The Gold Rush Continues
Gold jumped more than a percent on Thursday, boosted by a crumbling dollar and as sliding stocks prompted an influx of safe-haven bids after the U.S. Federal Reserve’s monetary policy stance augmented concerns about slowing global growth. XAUUSD continued to edge higher in early Friday trading adding 0.1% to trade at an almost 6 month high of $1261.12 as of 8:45 GMT.**

3. These Three US Stocks Were Yesterday’s Biggest Losers
Twitter ended the day down 11 percent yesterday at a monthly low of $29.29, after a Citron Research report called the platform, the “Harvey Weinstein of social media” and set a low target price of $20. Shares of electric-car company Tesla (TSLA) also fell sharply on Thursday, adding to the stock’s recent volatility. Tesla shares declined as much as 6.3% to close 5.3% lower at $315.38 for the day. Avon shares (AVP) dipped 4.8% after a surprise announcement of series of changes to Senior Management Team.***

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*Source: Forbes, Dec 21, 2018, 6:25 AM GMT
**Source: Reuters, Dec 21, 2018, 4:16 AM GMT
***Source: CNBC, Dec 21, 2018, 3:03 AM ET

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