Dollar drops over dovish policies from central banks
The dollar performed poorly on Monday morning in Asia. Investors are still trying to digest recent dovish monetary policy choices from major central banks amid markets’ volatile interest rate.
The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% lower to 94.310 by 12:24 AM ET (4:24 AM GMT).
The USD/JPY pair jumped 0.19% to 113.61.
The AUD/USD pair slid 0.10% to 0.7394, while the NZD/USD pair climbed 0.07% to 0.7120.
The USD/CNY pair remained at 6.3979, while the GBP/USD pair shed 0.13% to 1.3477.
The pound continued to record losses following the Bank of England’s decision to keep its interest rate at 0.10% last week. The unexpected move also forced investors to lower their expectations on impending rate hikes from various central banks. The U.S. Federal Reserve made no changes in its interest rate despite the start of its asset tapering.
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