Dollar near week low

The dollar on Monday trades near a week low to major currencies after a record nearly seven weeks drop on Friday. The sharp weakening of consumer confidence in the United States tempered expectations of a rapid curtailment of incentives by Fedreserva. The dollar index to a basket of six major currencies rose 0.04% to 92.559 by 09:06 Moscow time.

The Japanese yen rose 0.15% against the dollar to 109.41 yen. The euro fell 0.03% to $1.1788 and continues to hold near a week-long peak of $1.18045. Study published Friday The University of Michigan showed that consumer confidence has fallen to its lowest since 2011 amid a rapid increase in coronavirus cases.

“Does the study signal an imminent reversal in the American economy? We doubt this, given that the effectiveness of vaccines remains high, and the blow to sentiment most likely means that more people will be vaccinated, “said Tapas Strickland of National Australia Bank.

The focus of the market is data on retail sales in the United States, which will be published on Tuesday. Ossi fell in price by 0.47% to $0.7334 amid the expansion and tightening of lockdowns in Australia. The New Zealand dollar fell 0.16% to $0.7026 ahead of the Reserve Bank of New Zealand meeting on Wednesday. Economists expect the first interest rate increase since 2014.

Bitcoin rose 1.02% to $47.509.3, nearing a three-month high of $48.190 reached over the weekend. Ethereum dropped 0.55% to $3.293.07.

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