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The dollar crawled down ending a two-week growth

The dollar crawled down ending a two-week growth

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Jim Anderson - Public Relations

On Monday morning, the US dollar fell in Asian markets, completing a multi-week rally. The dollar index, which tracks the exchange rate of this currency against a basket of other currencies, fell by 0.28% to 100.14 at 04.30 GMT. At 11:15 GMT, the dollar index futures are trading at 99.97.

Investors have sought to invest in the dollar in recent weeks amid continued economic turbulence due to the coronavirus epidemic, which has led to an influx of investment in the dollar as a “safe haven” and its deficit. 

But some analysts said that the dollar will continue to fall in the long run, as the US Federal Reverse has weakened its monetary policy, which is more aggressive than other central banks.

Meanwhile, the USD/JPY pair fell by 0.13% to 107.35, since on Monday the Bank of Japan began a meeting on monetary policy issues. The Japanese central bank is expected to purchase and facilitating funding for companies affected by the coronavirus epidemic.