The dollar is near its lowest level in seven weeks


The dollar is near its lowest level in seven weeks


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The dollar rose slightly during trading on Wednesday, and the US currency is still hovering near its lowest level in seven weeks.

The US currency, which is considered a safe haven, has received some support from the decline in global stocks from record highs, as the escalation of Corona virus infections, from India to Canada, deteriorated expectations for a rapid global recovery.

The dollar index, which tracks the performance of the US currency against six currencies, reached 91.254 points, after it fell to 90.856 points on Tuesday for the first time since the third of March 2021. The index has fallen 2.1 percent since the beginning of the month.

And the single European currency (euro) traded at 1.20275 dollars, after touching a seven-week high, at 1.2079 dollars during the night.

The European Central Bank releases its policy decision on Thursday, followed by the US Federal Reserve and the Bank of Japan next week.

In the cryptocurrency market, Bitcoin traded at about $ 55,500, after falling to $ 51541.16 last Sunday. The currency hit a record high of $ 64,895.22 on April 14th.

Source: Reuters


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