The US dollar enjoyed small gains on the penultimate day of trading of 2015. Although December has been relatively uneventful for the US dollar, it is poised to round off an otherwise excellent year on a positive note, and given the European Central Bank’s (ECB) continued favouritism towards easier monetary policy, fortunes bode well for the dollar as we head into 2016. However, if oil prices continue to drop into the New Year, the US dollar could see a more troubling year ahead than the Federal Bank would have hoped for.
We anticipate further interest rate rises, changes in oil prices and market movement for the US in 2016. Contact your trader in the first week of January for the latest rates and to discuss appropriate currency strategies.