Due to the weaker than expected inflation data in United States, the U.S. Dollar Index dropped against the basket of six major currencies on Tuesday to end the session in the red at 96.97.
The U.S. Dollar closed Tuesday's session lower as the Federal Reserve started its two-day meeting, with many investors expecting the central bank to deliver a dovish outlook on monetary policy when the meeting ends on Wednesday.
The U.S. Dollar closed Wednesday’s session lower after Federal Reserve policymakers abandoned predictions for more rate increases this year as the U.S. central bank confirmed an expected slowdown in the economy.
The U.S. Dollar closed Thursday’s session higher recovering from the unexpected announcement from the Federal Reserve policymakers that a slowdown in the economy is expected and growth rates are unlikely to increase.
The U.S. Dollar closed Friday’s session higher following a rebound in U.S. home sales, but gains were limited by a sharp increase in the yen as the U.S. government bond yields dropped amid fears of slowing growth.
The U.S. Dollar closed Monday’s session lower as U.S. government bond yields extended their downfall from last week amid ongoing fears of slowing global growth.
The U.S. Dollar closed Tuesday’s session higher as bond yields rebounded, easing the concerns over the health of the U.S. economy even after weak economic data.
The U.S. Dollar closed Wednesday’s session higher as investors switched from risky assets to less risky assets in the wake of global economic slowdown fears.
The U.S. Dollar closed Thursday’s session higher after the decrease in the number of people applying for unemployment helped lift sentiment despite concerns over the outlook of the U.S. economy.
The U.S. Dollar started Friday’s session lower as investor began to move to less risky assets but rebounded before the end of the session with the support of positive economic data, mainly the growth in new home sales which was 7.5 percent better than expected.
The U.S. Dollar closed Monday’s session higher as solid and better than expected U.S. manufacturing data supported the greenback.
The U.S. Dollar closed Tuesday’s session lower as the gains in the sterling put some pressure on the greenback to give up on some gains.
The U.S. Dollar closed Wednesday’s session lower as weak private payrolls data underlined worries over the strength of the economy that supports the Federal Reserve's move to suspend interest rate hikes this year.
The U.S. Dollar advanced on Thursday’s session as jobless claims in the U.S. fell to a multi-decade low, boosting optimism about the labor market ahead of the significant non-farm payrolls data due on Friday.