US Dollar Rising From its Lowest Level in Two Years

The dollar rose Thursday, August 20, from its lowest level in two years, after a record less inclined to monetary easing than expected from the US Federal Reserve, which led to an appetite for buying the US currency, which recorded the highest increase in one day since June.

The dollar index, which measures the performance of the greenback against a basket of currencies, jumped 1% from its lowest level in two years at 92.12 reached on Tuesday. The dollar consolidated its gains at 92.90 in early London trade.

Refinitiv data revealed that the dollar’s ​​jump that followed Wednesday’s US Central Bank’s statement was the highest in a single day of the US currency since early June.

The euro, the biggest beneficiary of the dollar’s ​​weakness, fell below $ 1.19 and recorded $ 1.1856, up 0.16%, and the pound sterling fell 0.25% to $ 1.3078 and rose by 0.7% against the yen to 106 yen.

The Australian dollar fell to less than 72 cents to $ 0.7180, after rising to an 18-month high of $ 0.7275.

The New Zealand dollar fell by 1.3% from its highest level in a day to trade against $ 0.6561.