Singapore – Saba:
The dollar extended its decline against a basket of major currencies on Thursday, as expectations grew that the Federal Reserve (the U.S. central bank) would cut interest rates to stimulate the economy.
The dollar index, which measures the U.S. currency against six major currencies, dipped slightly by nearly 0.04% to 97.950 points, after falling 0.6% in the previous session.
The U.S. currency weakened against the Japanese yen by 0.26% to 146.95 yen, while the euro rose 0.1% to $1.1671.
The British pound gained 0.1%, reaching $1.33655, marking its fifth consecutive session of gains—the longest winning streak for the currency since mid-April.
Meanwhile, the New Zealand dollar climbed 0.4% to $0.5950, and the Chinese yuan edged up slightly to 7.1789 against the dollar.
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