The dollar falls to its lowest level in two weeks

The US dollar fell against the major currencies today to its lowest level in two weeks with the decline in US Treasury yields in addition to the unexpectedly high US jobless claims last week. The main dollar index, which measures the performance of the greenback against 6 major currencies, fell 0.35% to 92.091, the lowest level since March 23rd, and the 10-year Treasury yield declined today to 1.632%.

Federal Reserve Chairman Jerome Powell said that the central bank is not close to reducing its support for the US economy indicating that the expected price hike this year is likely to be temporary.