Dollar slumps to 7-week low as inflation concerns fade
The US dollar fell on Tuesday, to deepen its losses for the third straight day, and hit 7-week low, as inflation concerns receded in the US after the Federal Reserve officials successive confirmations that the recent prices hike is temporary.
The dollar index fell over 0.2% to the lowest since March 21 at 90.85 points, after opening at 91.04 points, and hit a high of 91.10 points.
The US dollar fell 0.6% yesterday, its second daily loss, as investors focused on buying high-risk currencies.
The greenback lost 0.6% last week, and posted its second straight weekly loss, due to the latest developments in the US bond market.
Fed Governor Christopher Waller said on Friday he sees the US economy as "set to take off" as vaccination continues, but the recent rise in inflation is likely to be temporary.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.2135
|
-0.0038
|
0.3150%
|
|
|
|
|
1.4118
|
-0.0018
|
0.1291%
|
|
|
|
Tadawul
|
10322.68
|
86.96
|
0.85%
|
|
|
|
|
27.358
|
-0.446
|
1.604%
|
|
|
|
|
65.380
|
-0.012
|
0.018%
|
|
|
|
|
68.55
|
0.41
|
0.60%
|
|
|
|
|
1828.405
|
-15.820
|
0.858%
|
|
