US dollar falls as concerns over further slowdown build up

Friday, December 21, 2018
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The US dollar fell as Federal Reserve's interest rates hike and slower path of monetary tightening in 2019 added weakness to the greenback amid fears of an economic slowdown across the board.

In late New York trading on Thursday, the euro increased to $1.1469 from $1.1371 in the previous session, and the British pound was up to $1.2670 from $1.2622 in the previous session, Xinhua news agency reported. 

The Australian dollar was up to $0.7118 from $0.7114.

The US dollar bought 111.11 Japanese yen, lower than 112.35 Japanese yen of the previous session. The US dollar decreased to 0.9869 Swiss franc from 0.9942 Swiss franc, and it rose to 1.3496 Canadian dollars from 1.3494 Canadian dollars. 

Investors sentiment remained low as analysts believed that the Fed grew more cautious about global economic outlook.

In its policy statement on Wednesday, the Federal Open Market Committee stressed they "will continue to monitor global economic and financial developments and assess their implications for the economic outlook."

The market expectation has undercut the greenback's strength that Sweden's central bank would not constrain the flowing of its currency in the future. 

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Source: IANS
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