Sunday, May 9, 2021
Home Lead Story US Dollar Weakens Against Other Major Currencies

US Dollar Weakens Against Other Major Currencies

The dollar index, which measures the greenback against six major peers, decreased 0.13 per cent at 96.1871 in late trading

The US dollar weakened as the US Federal Reserve Chairman Jerome Powell’s dovish remarks on rate hikes coupled with strong jobs data alleviated traders’ demand for safe havens.

In late New York trading on Friday, the euro was up to $1.1398 from $1.1391 in the previous session, and the British pound rose to $1.2740 from $1.2629 in the previous session, Xinhua news agency reported.

The Australian dollar rose to $0.7116 from $0.7002.

The US dollar bought 108.52 Japanese yen, higher than 107.75 Japanese yen of the previous session. The US dollar fell to 0.9864 Swiss franc from 0.9885 Swiss franc, and it was down to 1.3394 Canadian dollars from 1.3480 Canadian dollars.

The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.
US dollar weakens against major currencies, pixabay

Powell said the central bank would remain patient in hiking benchmark overnight lending rates. He stressed Fed’s future move will depend on “how the economy evolves”.

Meanwhile, the upbeat jobs data also helped ease fears that the US economy is at risk of slipping into a recession over the next two years.

Also Read- NASA Claims That No Evidence of Atmosphere is Found on Ultima Thule

US total nonfarm payroll employment increased by 312,000 in December, exceeding market expectations, the the Department of Labor said on Friday.

The dollar index, which measures the greenback against six major peers, decreased 0.13 per cent at 96.1871 in late trading. (IANS)



Most Popular

Breathing Exercises To Strengthen Your Respiratory System

While Covid-19 cases continue to surge, we need to be even more vigilant, while staying at home and keeping ourselves healthy and fit. While...

A Makeover Guide For All Mothers Out There

For generations, mothers have been a force of nature doing the heavy lifting when it comes to raising children right; keeping them safe, and...

Covid-19 May Cause Long-Lasting Harm To Heart: Doctors

A large number of recovered patients from Covid-19 have encountered heart problems and even patients with existing heart problems have felt its effects. The...

Make Your Mom Feel Extra Special With These Gifts

Thinking about what to get your mum for Mother's Day? Check out our compilation of ideas which makes for the perfect gift for mums...

Research Reveals Why Some Patients May Test Positive For Covid-19 After Recovery

Some virus RNA can be reverse transcribed and inserted into the human genome, finds a new study, which may explain why some people who...

Life In The Clock Tower Valley: Spelling Life In Kashmir Valley

Even as another book 'Life in the Clock Tower Valley' emerges from Kashmir, its author, Shakoor Rather says that while many past books have...

Lakshmi Devy: The Doctor-Turned-Filmmaker Is Winning Laurels In US

 Dr. Lakshmi Devy, a doctor by profession has always been passionate about acting and filmmaking and her dreams have come true after she won...

The Practice of Discretion Will Help You Achieve Success

We live in an age where 'innocence is bliss' no more and the call for being discreet but decisive guides every step of the...

Recent Comments