Dollar falls near 3-month low

2021-05-11 14:07:27 GMT (Economies.com)
Dollar falls near 3-month low

The US dollar fell against a basket of its peers on Tuesday to resume its losses after holding yesterday, diving near its 3-month low, as the greenback is still being weighed down by the disappointing US jobs data of last week.

 

The dollar index fell 0.2% to 90.06 points, after opening at 90.23 points, and hit a high of 90.35 points.

 

The US dollar gained 0.1% yesterday, within recovery attempts from a 3-month low of 90.04 points.

 

The greenback lost 1.2% last week, and posted its biggest weekly loss this year, due to the improved risk appetite.

 

The US Federal Reserve repeatedly assured that interest rates will remain low while continuing to buy bonds until inflation rises and the labor market fully recovers, this came after the release of disappointing jobs data, which lowered bets for early tightening of US monetary policy before 2023.

 

The US economy added just over a quarter of the expected jobs during April, and the unemployment rate rose unexpectedly.

 

Investors await later today several members of the US Federal Reserve's speeches, which ought to provide more cues about the futures of the US interest rates and the bond-buying program.

 
 
 
  Symbol Last Change Chg.%
1.1944
0.0042
0.3516%
1.3931
0.0037
0.2670%
Tadawul
10919.68
6.62
0.06%
26.066
0.077
0.298%
73.500
1.674
2.331%
75.56
0.32
0.43%
1778.805
0.415
0.023%
 
 
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