Dollar Slides down as the US job data adds into growth worries

Published:

On: Dec 2018

On Monday, the dollar has witnessed a sharp fall in its value against the yen and the euro on after soft US payrolls data boosted an already heated discussion and estimation that the Federal Reserve may halt the rise in the interest rates earlier than expected.

 

Not just the US dollar but the British pound also witnessed a fall when the British parliament seemed to reject the Brexit deal supported by the PM of Britain Theresa May. On the other side, even China’s Yuan dipped in due to weak trade.

 

The dollar dipped down to 0.2 percent against the yen getting a value worth 112.52.

 

Some Federal Reserve policymakers have raised worry about the economic conditions and also warned that this environment might give the economy a possible turning point.

 

Federal Governor Lael Brainard said on Friday that the economic picture was positive, but the overseas environment is becoming risky and unstable.

 

Although the US President Donald Trump and Chinese President Xi Jinping have decided to adopt a 90-day agreement where both the parties have halted any further rise in the number of tariffs, the US-China trade discussions have to be concluded on a positive note by March 1.