The dollar index, which compares the greenback with a basket of six major currencies, fell 0.1% to 101.93 units, approaching again the 7 1/2 month low of 101.51 reached last week.
“The United States is no longer the cleanest shirt in the global economic laundry,” said Ray Attrill of National Australia Bank, who expects the dollar index to fall to 100 by the end of March and the euro to rise to $1.10. “That’s part of our bearish view of the dollar, that the United States is not going to be the leader in global growth.”
The euro has advanced almost 0.8% in the past week, buoyed by a flurry of European Central Bank officials who have indicated that more interest rate hikes than currently anticipated by investors will be necessary to tackle inflation. markets.
Surveys released on Tuesday showed business activity in the euro zone unexpectedly returned to modest growth in January, and service sector activity in Germany rose for the first time since June, although price pressures remained stiff.
The euro, which traded around its highest level since April last day, was flat at $1.8725, just below a session high of $1.0898. For his part, the greenback was down 0.4% at 130.18 yen, snapping a two-day bullish streak.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
