The value of the dollar against a basket of currencies fell last week, after two weeks of gains, as uncertainty in global financial markets sent investors looking for safer havens for capital.
The dollar index, which shows the value of the US against the six most important world currencies, weakened last week by 0.2 percent, to 99.55 points.
At the same time, the dollar fell by 0.25 percent against the European currency, so the exchange rate of the euro rose to $1.1565.
The American currency also weakened against the Japanese one, by 0.4 percent, so the price of the dollar slipped to 153.40 yen.
Halfway through the week, the dollar index broke well above 100 points and reached the highest levels since the beginning of August.
But then uncertainty reigned on the world stock exchanges, so stock prices fell sharply, especially in the technology sector, reports SEEbiz. As a result, investors are looking to safer havens for capital, such as the Japanese yen and the Swiss franc.
Interest rates on these currencies are lower than on the dollar, but they are considered safer in uncertain times. All the more so since the beginning of the year, the dollar has weakened significantly against a basket of currencies due to uncertainty regarding the policies and moves of US President Donald Trump.
