Dollar Slides by 0.1% Against Other Major Currencies


The U.S Dollar, on Monday, December 5, was mixed against major world currencies, pulled down by a rallying euro and stronger emerging markets.

The Wall Street Journal Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down 0.1% at 91.19.

Bargain hunters picked up the euro from a 20-month low hit earlier in the session, after Italian voters on Sunday rejected constitutional changes backed by the government.

The single currency was recently up 0.5% at $1.0707. It had touched $1.0505 earlier in the session, its weakest level since March 2015.

The euro will likely drift to $1.00 by the time France holds presidential elections in April, Mr. Juckes said. In other currencies, the dollar was recently up 0.8% at ¥114.40 against the Japanese yen, on expectations that yields in the U.S. will continue rising.

Investors are assigning a 92.7% chance that the Federal Reserve will raise interest rates next month, according to CME futures data. The chances of an additional increase in March rose to nearly 20%, from 15.3% a day before.

Higher prices for oil and other raw materials boosted the currencies of commodity producers.

The dollar was down 0.5% against the Brazilian real, at 3.46. It fell 0.4% against the Russian ruble, to 63.60.

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