FOREX-Dollar on track for more than 9 pct gain in 2015

Thu Dec 31, 2015 10:54am EST
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* Dollar index up over 9 pct for 2015

* Dollar up 10 pct against euro for year

* Dollar hits more than two-month low against yen

* Dollar hits more than 1-yr high against ruble

By Sam Forgione

NEW YORK, Dec 31 (Reuters) - The dollar was set to end 2015 with a more than 9 percent annual gain against a basket of currencies on Thursday, despite a small decline in December, with portfolio rebalancing from asset managers leading the currency higher in thin trading.

Riding a rally dating back to May 2014, the greenback has appreciated by a quarter in value against a basket of currencies and by over 20 percent against the euro. For the year, the greenback is up about 10 percent against the euro.

On Thursday, the euro hit a more than one-week low against the dollar of $1.08750, with analysts attributing the move to purchases of dollar-denominated assets from money managers moving to meet minimum exposure requirements.

"It would be consistent to see a portfolio rebalancing that may imply a greater exposure to the U.S. dollar," said Mazen Issa, senior currency strategist at TD Securities in New York.   Continued...