Greenback keeps tumbling on hawkish major banks

Greenback keeps tumbling on hawkish major banks

On Friday, the evergreen buck kept going down because key banks indicated that the epoch of cheap money was approaching its end in a boon to the euro, the Canadian dollar and the British pound while Asian shares were affected by dismal performances of EU and American markets.

Global stock market indexes are set for more revenues by the end of 2017, powered by an economic revival in the EU as well as bright prospects for Asia. That’s what a Reuters survey of 300 financial professionals disclosed.

The dollar index went down 0.1%, trading at 95.549, braced for a 1.8% dip this week, having sagged in all sessions.

The Korean won lost versus the greenback after the country posted industrial output grew by 0.2% in May from the previous month, missing hopes for surge of 1.5%. It followed a 2.2% sag in April.

Versus the Korean won the greenback soared 0.1%, trading at 1,142.5 won.

The US dollar sank 0.25%, being worth 111.95 yen, having lost 0.2% on Thursday.


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