The dollar index, which measures the green currency’s value against a basket of six currencies, fell 0.3 percent to 90.963 at the end of the trading session on the New York market.”The sharp rally of the US currency on Friday may not be the beginning of a broader recovery,” said Shawn Osborne, chief currency expert at Scotiabank.
“The United States economy is showing better performance, but it has not yet passed the risk phase,” said Jerome Powell, Chairman of the Federal Reserve Board (US Central Bank).
The dollar fell against the euro after a survey showed that factory activity growth in the euro zone jumped to a record high in April.Trading in foreign exchange markets was thin in Monday’s session due to holidays in Japan, China and Britain, which dampened volatility.
The Australian and New Zealand dollars rose against the US currency today, although they were not able to fully recover Friday’s losses.
The pound sterling was the best performer against the dollar in Monday’s session, as it rose 0.8 percent to $ 1.3910.
In the cryptocurrency markets, Ethereum (a digital currency) broke the three thousand dollar barrier, to reach a new record high in the dollar.