Dollar Continues to Decline After Barkin’s Statements

The US dollar continues its decline since the start of Wednesday’s daily trading, affected by a drop in US Treasury yields, which continue to fall for the second day in a row. This comes due to statements from the Federal Reserve that favored the continuation of current interest rates for some time.

Thomas Barkin, the Richmond Fed president, said that monetary policymakers at the Fed need more time to understand the state of the US economy, inflation, and where it is headed, suggesting there is uncertainty about President Trump’s policies. He also expressed his desire for the central bank to keep the interest rate unchanged in the near future.

The dollar index, which measures the performance of the US currency against a basket of major currencies, fell to 107.53 points, compared to the previous day’s close of 107.96 points. The index rose to its highest level of the current trading day at 108.00 points, compared to the lowest level recorded at 107.30 points.