Forex
The dollar is losing value to the euro and the yen
Is the dollar losing value? The dollar rate slowed its rise against the euro and the yen on Friday night, according to trading data.
The euro/dollar exchange rate is down to $0.9805 from a previous close of $0.9814, the dollar/yen rate is up to 144.66 yen from 144.45 yen. And the dollar index (the exchange rate against a basket of currencies from six U.S. trading partners) is down 0.11%, to 112.12 points.
Earlier in trading, the euro-dollar exchange rate reached $0.9735 and the dollar-yen exchange rate reached 144.79 yen.
Has the dollar lost value?
Traders analyzed a lot of statistics from the U.S. on Friday evening. For example, U.S. personal income rose 0.3% in August compared to July and consumer spending rose 0.4% month-on-month. The income figure was in line with analysts’ forecasts, though spending growth was expected at 0.2%.
The University of Michigan Consumer Sentiment Index, a measure of household confidence in the U.S. economy, rose to 58.6 points in September from August’s 58.2, with an expected gain of 59.5 points.
Earlier we reported that the pound went up against the dollar.
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