The dollar is registering its biggest monthly decline since December

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On Friday, the US dollar rose, extending its gains after optimistic data on the income and spending of US consumers and the manufacturing sector in the Midwestern states.

But the dollar index ends April down 2.1, its biggest loss in one month since December.

US data next week, including the latest monthly numbers for jobs outside the US agricultural sector, is expected to boost expectations for the world’s largest economy to recover from the pandemic.

Data showed a 4.2 percent recovery in US consumer spending in March, amid a 21.1 percent jump in income as families received additional financial assistance from the government to ease the repercussions of Covid-19, which gave support to the dollar.

The green currency received further support after the Chicago PMI jumped to the highest level in nearly four decades.

The dollar rose in the last session 0.7 percent to 91.279, the highest one-day increase since late February. It ends the week up 0.5 percent.

The euro fell 0.8 percent against the US currency to $ 1.2018, its biggest one-day drop in terms of percentage since late February. But it is ending the month with a gain of 2.5 percent, its best monthly performance since July 2020.

The dollar rose against the Japanese currency 0.36 percent to 109.30 yen, recording a 1 percent gain over the course of the week. But it ended the month down 1.3%, its worst monthly performance since July 2020.

(Reuters)





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