Breaking News: USD Drops to Weakest Level Since January as Investors Eye Central Bank Comments
The US Dollar (USD) is facing selling pressure on Monday, as the USD Index hits its lowest point since early January near 102.00. With no major economic data releases on the calendar, investors are closely monitoring comments from central bank officials.
USD Price Today
Check out the percentage change of the US Dollar (USD) against major currencies today. The USD was weakest against the Japanese Yen, showing a decline of 1.40%.
Analysis
The USD Index declined over 0.5% on Friday, marking the fifth consecutive week of negative performance. Improved risk sentiment and lower US Treasury bond yields have contributed to the USD’s struggle. Meanwhile, the Japanese Yen is outperforming other major currencies, with USD/JPY down 1.5% and EUR/JPY losing 1.4%.
EUR/USD reached a new 2024 high at 1.1050, while Gold surged to a record high near $2,510. GBP/USD closed the week at 1.2945, and AUD/USD and NZD/USD are also showing strength against the USD.
Key Takeaways
- USD hits weakest level since January near 102.00
- USD Index falls over 0.5% on Friday, ending fifth consecutive week in negative territory
- Japanese Yen emerges as best performing major currency
- EUR/USD reaches new 2024 high at 1.1050
- Gold surges to record high near $2,510
- GBP/USD closes week at 1.2945
- AUD/USD and NZD/USD show strength against USD
Stay tuned for more updates on the financial markets!