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[size=30]Dollar falls from the highest level in 14 years[/size]
05/01/2017 11:07 | Number of Views: 53
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The dollar fell away from its highest level in 14 years against a basket of major currencies on Thursday, at a time when there was concern among dealers in the market from a sharp decline the US currency recorded in front of the Chinese yuan.
It scored the yuan rise sharply over two consecutive days, its highest level in nearly two months and puts the speculators who had bet on a decline in the Chinese currency due to emerging capital flows from China in a difficult position.
And influenced large unexpected declines for the dollar against the yuan on the value of the dollar against major currencies such as the yen and the euro at a time when traders were quick to cut their bets on the US currency against those currencies as well.
The dollar index against a basket of six major currencies, to 101.86, its lowest level in three weeks, two days after reaching the highest level in 14 years at 103.82 on Tuesday while receiving support from a strong reading of the survey particularly the manufacturing sector in the United States yet.
The euro rose 0.7 percent in Asian trading to $ 1.0563, extending its recovery from the lowest level in 14 years of 1.0340, which touched on Tuesday.
The yuan fell during trading by about one percent to 116.08 yen but managed to stay above the level of 116.05 low hit in the thirtieth of December.
The dollar was also lower as investors moved to lock in profits after the rally as long as two months after Donald Trump win the US presidential election.
The Chinese yuan rose more than one percent to 6.7989 against the dollar in trading foreign markets.
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