Yahoo Finance Forex- Dollar Falls in Thanksgiving Slump
Investing.com - The U.S. dollar fell on Thursday as trade volumes were thin and markets were closed for the Thanksgiving holiday.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.06% to 93.09 by 11:14 AM ET (4:14 PM GMT), just shy of its weakest level since October 19.
The dollar remained lower amid minutes from the Federal Reserve’s November meeting that suggested officials were concerned that inflation would stay below the 2% target longer than expected. The sentiment was echoed by Fed Chair Janet Yellen in a speech earlier in the week, when she said she was uncertain about inflation.
The remarks weighed on the dollar, as investors lowered their expectations for further rate hikes in 2018. A rate hike in December is still expected.
The dollar was at two-month lows against the yen, with USD/JPY falling 0.03% to 111.19 after going as low as 111.07 overnight.
Meanwhile the euro was higher, with EUR/USD rising 0.19% to 1.1844.
Data on Thursday showed that euro-zone private sector output rose at the fastest pace in six-and-a-half years in November. In a separate report, the minutes of the European Central Bank’s October meeting showed that policymakers agreed about a decision to extend the duration of its asset purchase program, but were far from unanimous in keeping the scheme open-ended.
Meanwhile, sterling was little changed against the dollar, with GBP/USD falling 0.16% to 1.3300.
Related Articles
Forex- Dollar Falls in Thanksgiving Slump
Forex - USD/CAD Rises After Downbeat Canadian Data
Forex - Dollar Slips to 5-Week Lows in Holiday-Thinned Trade
