Business & Economy

Disappointment blew up in a dollar!

With declining

US Treasury yields and lackluster data affecting the greenback, the dollar fell against a basket of currencies, giving up some of the gains it had recorded in the previous session. Data showed that manufacturing activity in the United States grew at a slower pace in April, which pushed Treasury bond yields to decline, as the dollar index, which measures the value of the green currency against a basket of six currencies, fell 0.3 percent to 90.963 at the end of the trading session in the market. New York. “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 the Bank of Scotia. Jerome Powell, Chairman of the Federal Reserve Board (US Central Bank), said, “The United States economy is showing better performance, but it has not yet passed the risk phase.” The dollar weakened against the euro after a survey showed that factory activity growth in the euro zone jumped to a record high in April. Note that trading in foreign exchange markets was poor in Monday’s session due to holidays in Japan, China and Britain, which curbed volatility. The Australian and New Zealand dollars rose against the greenback today, although they were unable 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) has broken the three thousand dollar barrier, to reach a new record high in the dollar


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