The U.S. dollar slipped against other major currencies on Tuesday, the first trading day in 2018, amid market expectations for a slower pace of interest rate hikes by the Federal Reserve.
The greenback's weak performance on Tuesday was a continuance of 2017, which was the currency's worst year since 2003.
Analysts said investors were skeptical about the Fed's outlook of three additional rate hikes in 2018, especially given the extremely benign inflation in the country.
The dollar index, which measures the greenback against six major peers, was down 0.38 percent at 91.893 in late trading, the lowest level in three months. The index had declined over 9 percent in 2017.
In late New York trading, the euro rose to 1.2045 U.S. dollars from 1.2010 U.S. dollars, and the British pound climbed to 1.3594 U.S. dollars from 1.3519 U.S. dollars. The Australian dollar increased to 0.7829 U.S. dollar from 0.7813 U.S. dollar.
The U.S. dollar bought 112.34 Japanese yen, lower than 112.62 yen of the previous session. The U.S. dollar fell to 0.9724 Swiss franc from 0.9744 Swiss franc, and it edged down to 1.2508 Canadian dollars from 1.2539 Canadian dollars.
The greenback's weak performance on Tuesday was a continuance of 2017, which was the currency's worst year since 2003.
Analysts said investors were skeptical about the Fed's outlook of three additional rate hikes in 2018, especially given the extremely benign inflation in the country.
The dollar index, which measures the greenback against six major peers, was down 0.38 percent at 91.893 in late trading, the lowest level in three months. The index had declined over 9 percent in 2017.
In late New York trading, the euro rose to 1.2045 U.S. dollars from 1.2010 U.S. dollars, and the British pound climbed to 1.3594 U.S. dollars from 1.3519 U.S. dollars. The Australian dollar increased to 0.7829 U.S. dollar from 0.7813 U.S. dollar.
The U.S. dollar bought 112.34 Japanese yen, lower than 112.62 yen of the previous session. The U.S. dollar fell to 0.9724 Swiss franc from 0.9744 Swiss franc, and it edged down to 1.2508 Canadian dollars from 1.2539 Canadian dollars.
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