The dollar fell to its lowest level in two years against the euro, affected by the spread of the virus The dollar tumbled to its lowest level in near

The dollar fell to its lowest level in two years against the euro, affected by the spread of the virus


The dollar tumbled to its lowest level in nearly two years against the euro yesterday, due to fears of an increase in the number of cases of coronavirus in the United States, while the Federal Reserve is expected to confirm this week its commitment to cut interest rates.
According to "Reuters", the Federal Reserve will most likely confirm that it will keep interest rates close to zero for years to come when it ends its two-day meeting tomorrow.
By 14:50 GMT, the euro was 0.9 percent higher at $ 1.1773, its highest level since September 2018.
The dollar index fell 0.92 percent to 93.490, the weakest level since June 2018.
The Japanese yen, which is a safe haven, also rose due to fears of deteriorating US-China relations, and escalating tension between the two largest economies in the world after Washington ordered a few days ago to close the Chinese consulate in Houston, prompting Beijing to close the US consulate in Chengdu.
The dollar fell 0.88 percent to 105.14 yen, the lowest since March 16. The pound rose 0.88 per cent against the US currency to 1.2900 dollars, the highest level since March 11.
The Russian ruble fell yesterday to the lowest level in 16 weeks against the euro, while it stabilized against the US dollar, with global markets affected by the continuing uncertainty surrounding the pandemic of the Corona virus and the tension in relations between the United States and China.
The ruble fell 1.01 percent against the European currency to 84.37 euros, the lowest level since April 2. In front of the greenback, the ruble rose 0.18 percent to 71.66 dollars.
Last Friday, the Russian Central Bank sought to support the country's stagnant economy by cutting the benchmark interest rate by 25 basis points to a record low of 4.25 percent.
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