NEW YORK August 21. 2024 (Saba) - The dollar fell to its lowest level this year against the euro on Wednesday, as traders awaited possible decisive reviews of US jobs data later in the day, ahead of a speech by Federal Reserve Chairman Jerome Powell at the end of the week.
Media reports indicated that the dollar was affected by the decline in US bond yields, which reached their lowest levels since August 5, when yields fell to their lowest level in more than a year after surprisingly weak monthly jobs figures raised recession fears.
The dollar index, which measures the currency's performance against the euro, the pound sterling, the yen and three other major currencies, fell to its lowest level since January 2 at 101.34, after falling 0.5 percent or more in each of the previous three sessions.
The euro rose to $1.1131, its highest level since December 28.
The pound was steady at $1.3033 after touching a high of $1.3054 on Tuesday, a level last seen in July last year.
The dollar fell 0.2 percent against the Japanese currency to 144.98 yen, having earlier fallen to 144.945 yen, falling below the key psychological 145 yen level for the first time since Aug. 6.
The Australian dollar hovered just below a one-month high against the greenback of $0.6749 hit on Tuesday. The New Zealand dollar rose slightly to $0.61585, its highest since July 8.
Media reports indicated that the dollar was affected by the decline in US bond yields, which reached their lowest levels since August 5, when yields fell to their lowest level in more than a year after surprisingly weak monthly jobs figures raised recession fears.
The dollar index, which measures the currency's performance against the euro, the pound sterling, the yen and three other major currencies, fell to its lowest level since January 2 at 101.34, after falling 0.5 percent or more in each of the previous three sessions.
The euro rose to $1.1131, its highest level since December 28.
The pound was steady at $1.3033 after touching a high of $1.3054 on Tuesday, a level last seen in July last year.
The dollar fell 0.2 percent against the Japanese currency to 144.98 yen, having earlier fallen to 144.945 yen, falling below the key psychological 145 yen level for the first time since Aug. 6.
The Australian dollar hovered just below a one-month high against the greenback of $0.6749 hit on Tuesday. The New Zealand dollar rose slightly to $0.61585, its highest since July 8.
resource : Saba