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The dollar slipped from its 14-year-high against a basket of currencies on Thursday as investors took profits ahead of holidays and a big batch of U.S. Exchange rate pound us dollar economic data due later in the day.

The dollar index, which measures the greenback against six major rivals, last stood at 103.02. Stock market futures It has receded from the 103.65 marked on Tuesday, its highest since December 2002.

Still the dollar’s decline was limited as the Federal Reserve signaled more frequent rate hikes in 2017, partly on expectations for faster economic growth under the incoming Trump Administration.

While trade is expected to slow down ahead of Christmas, the market’s near-term focus is on a big batch of U.S. Dollar to yen exchange rate today economic data due on Thursday, including revised GDP for July-Sept, durable goods orders for November, and weekly initial jobless claims. Euro to us dollar exchange rate today More»

The yen fell only briefly after the Bank of Japan (BoJ) stood pat as widely expected on Tuesday, keeping much of its gains after separate deadly incidents in Turkey and Germany raised security concerns in the West.

The safe-haven Swiss franc also held firm near six-month highs versus the euro.

Canadian dollar indian rupee exchange rate The dollar was well bid after upbeat comments from Federal Reserve Chair Janet Yellen.

The U.S. Futures stock market definition currency last traded at 117.22 yen, showing only minor price action after the BOJ maintained its twin targets of minus 0.10 percent interest on some excess reserves and the zero percent 10-year government bond yield.

Some players remained cautious ahead of Governor Haruhiko Kuroda’s news conference at 0630 GMT, where they suspect he could strike a more hawkish tone than before, given the sharp fall in the yen since the BOJ’s previous meeting.

Investors were rattled after the Russian ambassador to Turkey was shot dead by an off-duty police officer as the diplomat gave a speech at an Ankara art gallery.

Security fears deepened on news that a truck ploughed into a crowded Christmas market in central Berlin, killing 12 people, evoking memories of an attack in Nice, France, in July, in which 86 people were killed.

“Given that the yen was sold the most since the U.S. Love quotes for boyfriend tagalog elections, it was inevitable to see some short-covering in the yen,” said Masashi Murata, senior currency strategist at Brown Brothers Harriman.

Last week the yen was down about 11 percent since the U.S. Binary quiz election, edging out the Mexican peso and the Turkish lira to briefly become the worst performer after Donald Trump’s surprise election victory.

“The dollar is rising on expectations of Trump’s policies and I think the rally will continue as long as there are uncertain elements to his policies,” said Kazushige Kaida, head of foreign exchange at State Street.

“But markets are starting to take it as a fact, and that suggests the dollar’s rising cycle is coming near an end. Euro to pound exchange rate forecast Those who got on the bus first will be starting to get off,” he added.

The U.S. Convert inr to usd dollar remained supported against many other currencies, with the its index rising back to 103.08 from Monday’s low of 102.52, coming within sight of its 14-year peak of 103.56 touched on Thursday.

The Turkish lira dropped slightly to 3.5325 to the dollar ahead of its central bank policy announcement later in the day, but held above its record low of 3.6000 set earlier this month. Usd in euro rechner More»

Malaysia’s ringgit has dropped to its lowest since the 1998 Asian Financial Crisis, as dollar bullishness and domestic economic weaknesses weigh on the beleaguered currency.

On Monday in Asia, the dollar traded at 4.4770 ringgit, up from its previous close of 4.4755 amid outflows as a broad bullish trend extends in the greenback, according to Reuters data.

The ringgit has had a torrid time since Donald Trump’s win in the U.S. Idr to usd converter presidential election on Nov. Usd to rmb chart 8, joining other emerging market assets that have tumbled in the wake of Trump’s win, as the dollar surged and U.S. Us stock market futures real time Treasury yields jumped.

The dollar’s strength has impacted emerging-market companies’ ability to service dollar-denominated debt and spurred outflows from the segment on the prospect of higher, less-risky returns on Treasurys.

Chang Wei Liang, FX strategist at Mizuho Bank said last week’s interest rate hike by the U.S. Binary code translator to english Federal Reserve contributed to further weakness. Us dollar exchange rate indian rupee The Fed, which raised interest rates last week, has penciled in three rate increases in 2017.

Malaysia’s central bank, Bank Negara Malaysia, has also been moving to clamp down on non-deliverable forward trades to curb speculative activity on the offshore market, causing some concerns in the currency trade and prompting outflows.

Still, with the extended slump in oil prices and the country’s current account surplus at a 13-year-low, the ringgit’s weakness is “not out of whack with the fundamentals in place,” he noted.

The ringgit was unlikely to fall dramatically lower, he added, as recent announcements by OPEC and major non-OPEC oil producing countries will give some support to oil prices.

Additionally, markets have been pricing in Trump’s aggressive rhetoric on curtailing global trade with the U.S., which would disproportionately hurt trade-dependent emerging economies.

Even before Trump’s upset win, the ringgit was under pressure from weak oil prices and a political scandal in the country over Malaysia’s deeply indebted sovereign fund.

Investigations and court cases were continuing globally into allegations that billions of dollars were looted from Malaysian state development fund 1Malaysia Development Berhad (1MDB). What are stock market futures The long-running scandal has included allegations that diverted funds flowed to Malaysia’s Prime Minister Najib Razak’s personal bank account and to his stepson, Riza Aziz, whose company, Red Granite Pictures, produced the film “The Wolf of Wall Street.”

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