MARKET UPDATE 19 – MAY – 17

Looking at the performance of the Fijian dollar against the US Dollar which the most weighted currency in our currency basket. On a 5 day moving average, the US Dollar has weakened by 13 pts to 0.4668 when compared to last week. The weakening from recent days was from current investigation into President Donald trumps alleged collaboration with Russian personnel during the American election which has undermined his reputation and capability to achieve his economic agenda. However the US dollar has finally strengthened today from a stronger than expected economic data which has put the focus back on the anticipated interest rate hike by the federal reserves.

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