This is Why the US Dollar Dropped on Monday! - Kakiforex | Forex markets for the smart money. This is Why the US Dollar Dropped on Monday! This is Why the US Dollar Dropped on Monday!

April 13, 2021

This is Why the US Dollar Dropped on Monday!

The US dollar slumped on Monday to a three-week low as treasury results are displayed at rock bottom and investors are looking forward to the US inflation and retail sales data in the coming days.

On the other hand, the euro currency firmed above $ 1.19 while the UK pound currency rebounded from a two-month low. Dollar achievements are often associated with U.S. Treasury yields. for most of 2021, after worrying about rising inflation in the United States and the economic recovery triggered by the financial stimulus package.

Fall of U.S. treasury yields Last week pushed the US dollar down to its weekly low of 2021. In addition, the downward trend continued on Monday, making the US dollar even more depressed.

The treasury yield for the 10-year marker level stands at 1,664% after dropping to a low of 1.6170% last week. It jumped to the highest level in over a year at 1.7760% on 30 Mac.

Rizab Alliance manager Jerome Powell said in a US media interview released on Sunday that the US economy is at a "turning point" and appears poised for a strong recovery in the coming months, but he also cautioned on the risks that could arise.

Pelabur is now leaning on inflation data for the month of Mac due out on Tuesday.

The US dollar index, which measures the greenback compared to other currencies, shrank by 0.08% against the exchange rate of 92,082 at 10.15 p.m.