Trade-Weighted Dollar (Broad) in 2015
Trade-Weighted Dollar (Broad) opened 2015 at 102.90 and closed at 113.34, a +10.15% move for the year. The high of 113.82 was reached on December 17, and the low of 102.90 on January 2.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 102.90 | 105.59 | 105.59 | 102.90 | +2.61% |
| Feb | 105.21 | 105.60 | 105.79 | 104.49 | +0.37% |
| Mar | 105.82 | 107.44 | 108.92 | 105.56 | +1.54% |
| Apr | 107.06 | 105.31 | 107.75 | 104.56 | -1.63% |
| May | 105.64 | 106.74 | 106.92 | 104.02 | +1.04% |
| Jun | 107.22 | 106.52 | 107.22 | 105.10 | -0.66% |
| Jul | 107.01 | 108.78 | 109.43 | 106.91 | +1.66% |
| Aug | 109.21 | 110.56 | 110.67 | 109.19 | +1.23% |
| Sep | 110.45 | 111.33 | 111.63 | 109.82 | +0.80% |
| Oct | 111.04 | 110.21 | 111.04 | 108.67 | -0.75% |
| Nov | 110.22 | 112.34 | 112.37 | 110.22 | +1.92% |
| Dec | 112.11 | 113.34 | 113.82 | 111.55 | +1.10% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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