US Dollar Extends Losses Amid Economic Concerns

The US dollar continued its downward trajectory on Thursday, hitting lows not seen since September 2024. This decline reflects growing investor concerns about the US economy's performance relative to its global counterparts.

Soft CPI Report and Market Volatility

A softer Consumer Price Index (CPI) report has contributed to the dollar's weakness. In a move to curb market volatility, President Donald Trump announced a 90-day pause, adding another layer of uncertainty to US financial markets.

Current Exchange Rates

As of 11:07 am ET, the dollar had fallen by 1.96% to 0.8952. It also saw a 1.03% decrease against the British pound, trading at 0.7718, and a 2.09% drop against the Japanese yen, settling at 144.66. The dollar index was down by 1.71% at 101.2330 points.