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USD Has Fallen Slightly By Close of Trade Today

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USD Has Fallen Slightly By Close of Trade Today. However it remained close to its best level since early April 2021 compared with the euro. Investors are also awaiting the U.S. Federal Reserve’s newest policy verdict which will be given out on Wednesday.

The USD Index saw a modest dip down by 0.07% to 92.862. The index was modestly lower than the last week’s 3 and 1/2 month high of 93.194. However, we saw it rise up about 3.8% from its latest low on May 25. The U.S. economic has made progress as it recovers from COVID fallout. It also increased the probability that the Fed would start asset tapering perhaps in 2021.

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The USD/JPY pair fell slightly down 0.18% to 110.34. This was close to last week’s record of 110.58 which was the best since Jul. 14. Japanese markets reemerged after a break and the country came out with its services purchasing managers’ index as well. The AUD/USD pair fell also by 0.20% to 0.7349 and the Australian dollar drooped to $0.72895. Sydney and Melbourne are still under heavy restrictions concerning COVID and the travel bans that have been in effect for about a month.

The NZD/USD pair declined also about 0.01% to 0.6970. Trade data which came out earlier in the day indicated that New Zealand’s trade balance has fallen to NZD250 million year-on-year. However, it rose to NZD261 million month-on-month in last month.

The USD traded by the close at $1.17655 compared with the euro. This of course was  little altered from last week’s end but near the previous week’s best level of $1.1752. this high was not seen since Apr. 5. MetaNews is monitoring fluctuations in currency pairs due to COVID and we expect to see changes daily. Our readers will be updated on a daily basis as well. USD Has Fallen Slightly By Close of Trade Today.

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Billy Houghton

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