The US Dollar continued to depreciate against a basket of major currencies on Friday, continuing losses over several days. Today the US dollar level even headed to a 1-month low and a second consecutive weekly loss, due to the latest developments in the US bond market
The US dollar index, which measures the greenback against other currencies, fell 0.06% to an exchange rate of 91.56 as of 10.50 p.m.
The US dollar strengthened briefly even less than 0.1% in an attempt to recover from a 1 -month low of 91.49. The US dollar index has been down 0.75% so far this week, heading for a second consecutive weekly loss due to increased risk appetite and slower demand.
Market sentiment improved following the release of strong economic data in the United States and China. This further raises hopes that economic recovery will be faster and stronger around the world in addition to declining US Treasury bond yields.
The 10 -year U.S. Treasury yield fell this week, and hit a 5 -week low of $ 1,529, after Federal Reserve officials repeatedly assured that interest rates would remain low until a safer economic recovery.
Fed Chairman Jerome Powell said the Fed would reduce its monthly bond purchases at an appropriate time before raising interest rates.
