The dollar rises to its highest level in two weeks as...


The dollar rose to a two-week high against a basket of major currencies on Monday, while expectations are growing that the Fed may cut its asset purchases sooner rather than later despite a jump in Covid-19 infections.

The dollar index rose earlier to 92.887, its highest level since August 27. It was traded in late trading, up 0.1% at 92.707.

The market is awaiting a package of US economic data this week, starting with US consumer price data on Tuesday, which will provide an overview of the economy’s progress ahead of the Fed meeting next week.

The euro was among the currencies that fell against the greenback with its decline to 1.1770 dollars, its lowest level in about two weeks, after the European Central Bank said last week that it would start reducing its emergency bond purchase program.

And the European currency was trading in late trading, down 0.1 percent at 1.1799 dollars.

Against the Japanese currency, the dollar settled at 109.95 yen.

In the cryptocurrency market, Bitcoin fell 3.1% to $44,567.





These were the details of the news The dollar rises to its highest level in two weeks as... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi non-oil exports to GCC nations surge by 42% to hit $5.55bn
NEXT Saudi ‘Sah’ savings product second round opens, offering 5.63% return 

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]