TOKYO - The dollar slipped to two-year lows on Friday and is on track to post its biggest monthly decline in 10 years, as investors worried that a recovery in the U.S. economy would be hampered by the country’s struggle to stem the coronavirus epidemic.
The dollar index fell to 92.597=USD, a low last seen in May 2018, and is on course to post its steepest monthly fall since September 2010. It has fallen 4.9% so far this month. The economy has suffered heavily, with advance gross domestic product data showing contraction of an annualised 32.9% in the second quarter, the quickest pace since the Great Depression.
Washington is seeking to respond with further fiscal aid but partisan differences have so far hindered an agreement, just a day before a federal jobless benefit was set to expire, leaving investors nervous. “The U.S. has been quite prodigal and the market is starting to ask, who is going to pay the bills for all of this?” said Bart Wakabayashi, Tokyo branch manager of State Street Bank.
Source: Financial Digest (financialdigest.net)
Yeah...when they have to give unemployment benefits, the dollar value dips automatically.....
LebaneseLira what are you doing in the picture ya 3arsa?
Reuters does its best to understate the news so it doesn't seem that bad. Good job on dropping the ball and utterly failing your public duty.
CrypticalThinkr The more you print of something the less valuable it becomes
How soon until the US dollar is no longer a reserve currency?
twetchdat
“He’ll make American great again!” they proclaimed.
the more the fed. helps the economy under trump, the weaker the dollar becomes . trust me, it's not rocket science .
Not concerned; invested in $LINK.
Hmmmmm.. why isn't Narcissist Sociopath authoritarian DictatorTrump owning this?! Every ComplicitCorruptGOP owns this,too. Time to VoteThemAllOut2020 VoteForOurLives VoteByMail Vote VoteBlue
Same, Dollar. Same.
That is the question i have been asking my closest friends.
Meanwhile my rent was increased 5%
MAGA winning
If that's the case of dollar Just imagine how the rest of the world is doing
Give Trump a second term and the US will use Ruble as a currency.
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