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The dollar is sliding after the ‘horrible’ April jobs report – and has nearly erased all its gains for the year

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The dollar has fallen sharply in recent days and is now back close to where it began the year after a weak jobs report knocked confidence in the US recovery.

Many analysts now expect the dollar’s weakness to continue, as recovering economies around the world draw investment away from the US, and the Federal Reserve keeps interest rates at record-low levels.

The dollar index, which measures the greenback against a basket of other currencies, was down 0.08% on Monday to 90.16.

The gauge was close to the 89.93 level of the start of January, having reversed almost details ⇒

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