The US dollar has been through the deepest loss against the yet, when it fell in 1,1% in the beginning of the week. The US dollar has dropped only 0,6% against to the Swiss franc and its value also fell against the euro – in 0,2% of its value. The decline against the euro happened despite negative results from German industry production, which plunged in April compared to last year.
There are some reasons why the US dollar began the new trading week in negative values. The strongest impulse is, according to analysts, a growing uncertainty on the speed and strength of American economic recovery, even despite the surprisingly positive data from labor market published on Friday. However, there are some doubts whether the lower unemployment rate is real, as there’s decreasing number of Americans searching for jobs.
Another cause might be growing of the Japanese yen, which had grown steadily in recent days. We may say that traders only took profits from the yen and the dollar, what sent the US dollar into the red numbers. We may perceive growing of other currencies similarly. It’s probable that the dollar will slightly grow in upcoming days.
