Dollar marks its steepest annual drop since 2003

New York

THE dollar fell to its lowest in over three months against a basket of major currencies on Friday, marking its steepest annual drop since 2003, on doubts about the durability of a pickup in US economic growth in the wake of the recent US tax overhaul.

One of the most dramatic market developments in 2017 was the breath-taking rise of bitcoin and other cryptocurrencies. While they have pulled back at yearend, many of these digital currencies have surged in value this year.