Dollar Drops to lowest level in seven weeks

The US dollar fell today against major currencies to its lowest level in seven weeks, after US President Donald Trump and House Speaker Nancy Pelosi strengthened hopes for a major financial stimulus package to counter the impact of the coronavirus epidemic.

The main dollar index, which measures the currency’s performance against 6 major currencies, fell 0.47% to 92.605, its lowest level since September 2, and the US dollar fell to its lowest level in four weeks against the Japanese yen.

Trump said he was ready to accept a massive monetary stimulus bill despite opposition within his Republican party, and Pelosi said she was optimistic about the chances of a new aid deal despite resistance from Republicans in the Senate.