The dollar fell globally to its lowest level in more than two years

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Economic:

The dollar fell globally during trading today, Tuesday, reaching its lowest level in more than two years, as investors intensified their bets that the new policy of the Federal Reserve Board means that US interest rates will remain low for a long time.

According to Wall Street, the US currency fell by 9:45 am GMT against the euro by 0.4% to $ 1,197.9, the highest level for the European currency in two years.

The dollar fell against the Japanese yen by 0.2% to 105.73 yen, and against the pound sterling by 0.6% to 1,344.5 pounds, while it stabilized against the Swiss franc at 0,903.4 francs.

At the same time, the main dollar index, which measures the performance of the US currency against 6 major currencies, fell by 0.3% to 91.851, after hitting the 91.746 level earlier in the day, the lowest since May of 2018.

The political situation in the United States of America before the presidential elections there in November, and concerns about the recovery of the US economy pressured the dollar, so that the euro would be the biggest beneficiary.

Investors will be awaiting the release of US industrial purchasing managers’ data and construction spending later on Tuesday.

The US currency continues its losses, after it recorded its worst performance in August in the past 5 years on Monday, a loss for the fourth consecutive month this year.





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