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Forex: The dollar is at an all-time low

19/04/2021
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Against the euro and the yen, the dollar remained at its lowest level in three weeks. The greenback's fall came after a rebound in the US consumer price index.

Dollar down as U.S. consumer price index jumped 0.6% in March from a month earlier, the biggest gain since August 2012, and rose 2.6% from year-on-year, both 0.1 percentage point above market expectations.
The greenback lost steam as US bond yields fell on Tuesday, reducing the currency's appeal for yield as strong demand for a 30-year bond auction overshadowed any concerns about inflation.
Philadelphia Fed President Patrick Harker said inflation is unlikely to get out of control this year. The dollar yen corrected the strong rise of the first quarter which saw it return to 110.96, the high point of March 31.

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