Another year has passed and it is time for budgets: who was the best currency pair? And who was the worst? Here is a ranking of the best and worst of 2017 in the forex market.
Let’s start from the worst exchange rates that have not gone as hoped during the 2017.
The worst currency pair regards the New Zealand Dollar and the Swiss Franc. NZD / CHF recorded-1,72% and its current exchange rate (0,7006) is not very different from that of January 2017.
The second position always concerns the New Zealand Dollar but in relation to the Japanese Yen. NZD / JPY lost 1,58%. Both NZD and JPY also suffered as individual currencies during the year even though the YEN went slightly better than the New Zealand dollar.
There was no downturn but only a slight increase (+0,78) in the GBP / AUD exchange rate. It falls into this category because this number is the result of a minor difference compared to that of January 2017 and means that is the worst performance among the exchange rates in the Forex market.
A poor performance even for GBP / CAD. We are talking about a positive result (+2,12) but not enough despite the slight appreciation of the English currency against the Canadian dollar.
Last but not least, among the worst performance we still find the New Zealand dollar but this time in relation to the US dollar. NZD / USD had an increase of 2,14%. Both currencies did not perform well during 2017, but the New Zealand dollar yield exceeded that of the US dollar.
Now let’s move on to the good news, to those changes that achieved excellent results in 2017.
If we think of the euro as the currency that had the best performance in the past year, we certainly cannot include EUR / USD in first place as the best performance of 2017.
The euro-US dollar exchange rate gained +13,45%. At the beginning of the year, investors hoped for a stronger US dollar and instead there were many factors (President Trump, natural disasters, tax reforms etc …) that brought EUR / USD to reach 1,20 in the fall season.
The second place is occupied by EUR / NZD with a rise of 11,37%. This currency pair has had a steady growing yield throughout the year that has peaked with the appointment of New Zealand’s new premier.
Still the euro but this time with the yen at the third position. The EUR / JPY gap climbed +9,68%. Their interest rates are very low, but the yen lost its credibility as a safe haven and carry trade currency during the year.
Another currency pair with good results was EUR / CHF which rose +9,07%. The Swiss franc suffered the same fate as the yen.
Last but not least, GBP / USD which gained + 8,97%. With the Brexit effect, the pound has been found several times on the roller coaster, but has managed to appreciate thanks to rumors about reaching agreements with the European Union.
Needless to add that the currency of the year was the euro that has appreciated against all rivals.