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  • Writer's pictureanalysiswatch

Dollar weakens to six-week low, Euro on the rise.

Meanwhile today, the dollar fell near a six-week low unlike the euro that increased from improvements specially in the region’s vaccination program.

After measuring the value of the dollar against 6 other currencies by the dollar index the result was 0.1 percent lower at 90.925 at 2:55 a.m., after falling as 90.858 the lowest since the 3th of March.

· USD/JPY at 108.30, up to 0.1%

· GBP/USD at 1.3990, up to 0.1%

· AUD/USD at 0.7800, rose 0.6%

· EUR/USD at 1.2052, rose 0.2%

After reaching the highest which is 1.2072$ the first time after march 3.

· USD/CNY at 6.4960, fell 0.2%

Earlier in the day, the People's Bank of China held its loan prime rate steady at 3.85 percent, as expected.

In the early months of this year, the euro was hurting against the dollar because the European Union was late to carry out Covid-19 vaccinations, resulting in a third wave of cases.

The dollar had already begun to lose steam when U.S. bond yields fell from their 14-month highs last month, compared to the benchmark 10-year Treasury note yield hovering about 1.60 percent, diminishing the greenback's attractiveness as a yield generator.

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