US Dollar Fell To More Than 2-Year Minimum Against Euro
The US dollar fell to the lowest level for 2.5 years against the euro on the background of political instability in the US. The dollar index, which measures the dollar against a basket of six major currencies, has reached its lowest level since early May 2016 (92.786). The dollar also reached a more than six-week low against the Japanese yen (110.22). The euro traded more than 0.8% higher against the US dollar.
The day before it became known that the US President Donald Trump decided to dismiss from the post of Communications Director Anthony Scaramucci, appointed less than two weeks ago. This pushed the US currency to new lows.
Fears of investors about the fact that the rate of inflation may affect the decision of the Federal Reserve on interest rates was also the reason for the decline in the US currency.