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US dollar tumbles to six-week low

Late last week, the dollar fell to a six-week low after data showed the world’s largest economy created fewer jobs than expected last month. This supports expectations that the Federal Reserve is likely to hold interest rates steady again at its December meeting. The dollar index, a gauge of the greenback’s value against six major currencies, dropped 1.1% to 105.03, after earlier sinking to 104.93, its lowest since Sept. 20. The index was on track for its largest one-day fall since July.

For the week, the greenback was down 1.4%, on pace for its worst weekly performance since July as well.


Source: cnbc.com

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