Dollar slides on disappointing data

Economies.com
2020-02-21 19:49PM UTC

The US dollar fell against most major currencies on Friday, to deepen its losses after the release of weak US economic data.

 

The IHS Markit data showed that the US manufacturing and service sectors PMIs fell in February.

 

The minutes of the latest Federal Reserve's meeting showed that the FOMC members were confident in the US economic growth rate, but stressed concerns over the coronavirus impact on major companies business, which was reflected in Apple's revenue cut earlier this week.

 

China revealed today that coronavirus death toll rose by 118 to 2,25 victims and has infected almost 76,000 cases, as Italy also confirmed several cases alongside Lebanon.

 

The dollar index fell against a basket of currencies by 0.6% to 99.2 points at 19:37 GMT, after it hit an intraday high of 99.8 and a low of 99.2.

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