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The dollar hit its lowest level in more than two years against the euro and the New Zealand and Australian dollars, and fell to its lowest level in more than five years against the Swiss franc, while retreating widely against Asian currencies.
The dollar has fallen as riskier assets have risen since President Donald Trump signed the Aid and Spending Act on Sunday, as more stimulus in the world’s largest economy reduces demand for possession dollar safe haven.
The dollar fell to 1.2295 against the euro on Wednesday, the lowest level since April 2018, and touched 0.8815 against the Swiss franc, the lowest level since January 2015, while the British pound rose. to $ 1.3552, and the dollar fell to 103.26 yen, according to Reuters.
The dollar index fell against a basket of six major currencies to 89.711, its lowest level in more than two years.
The Australian and New Zealand dollars also recorded their highest levels in two and a half years against the US dollar, while the yuan rose in domestic transactions to 6.5251 against the dollar.
Many investors expect a new U.S. administration to take office after President-elect Joe Biden is sworn in on January 20.
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