Fri, 03 Dec 2021

U.S. dollar weakens, posting 2-day losing streak

21 Oct 2021, 06:05 GMT+10

NEW YORK, Oct. 20 (Xinhua) -- The U.S. dollar slipped in late trading on Wednesday, extending the losses suffered in the prior session.

The dollar index, which measures the greenback against six major peers, fell 0.18 percent to 93.5626, following a 0.24-percent dip on Tuesday.

In late New York trading on Wednesday, the euro was up to 1.1655 U.S. dollars from 1.1640 dollars in the previous session, and the British pound rose to 1.3832 dollars from 1.3799 U.S. dollars in the previous session. The Australian dollar increased to 0.7521 U.S. dollar from 0.7478 dollar.

The U.S. dollar bought 114.20 Japanese yen, lower than 114.30 Japanese yen of the previous session. The U.S. dollar was down to 0.9188 Swiss franc from 0.9226 Swiss franc, and it was down to 1.2315 Canadian dollars from 1.2359 Canadian dollars.

"Such a countermovement should not necessarily come as a surprise after the rally of the greenback since the beginning of September," Thu Lan Nguyen, FX strategist at Commerzbank, said Wednesday in a note.

"At some point, the positive arguments -- first and foremost, the imminent start of the Fed's exit from its expansionary monetary policy -- are, after all, sufficiently priced in," she added.

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