Dollar Declining With Warnings of a Further Decline

The dollar fell on Thursday, November 26, as negative US economic data and optimism about coronavirus vaccines prompted investors to turn to more risky currencies associated with global commodities and emerging markets.

The British pound traded near its highest level in more than two months against the dollar, as investors awaited details of trade talks between Britain and the European Union this week. The dollar hit 1.1926 against the euro, approaching its lowest level in more than two weeks.

The dollar was little changed against the Japanese yen, and it was trading at 104.31 yen. The dollar index, which measures the performance of the greenback against a basket of six currencies, approached the lowest level in more than two months.

The dollar trade was calm, as markets were closed later Thursday for the Thanksgiving holiday.

Bitcoin, the most popular cryptocurrency, fell to $ 17,895 after a failed attempt to break its highs of $ 19,666 in December 2017.

The Australian dollar hovered near its highest level since September, supported by improved risk appetite and strong demand for primary commodities in China, which is exported by Australia.

The New Zealand dollar traded near its highest level in more than two years.