The dollar is falling after negative US data


Emoji picture

The dollar tumbled, during Monday’s trading, as investors moved away from the global reserve currency, and with the pace of economic recovery in the United States faltered.

The US currency fell to its lowest level in four months against the Japanese yen, and to the lowest level in 22 months against the euro, and recorded its lowest level in five years against the Swiss franc, while gold recorded a record high level.

The Federal Reserve meets on Tuesday and Wednesday, after data last week showed the recovery of the labor market in the United States faltered.

While important announcements are not awaited, analysts expect US financial policymakers to prepare for another move in September or in the fourth quarter of 2020.

The euro rose 0.5 percent to 1.1725 dollars, and the Australian and New Zealand dollars increased at the same pace, while the British pound and the Singapore dollar recorded a peak of four and a half months.

Source: “Reuters”