USD Falls to Lowest level in 10 weeks

The US dollar fell against the major currencies today to its lowest level in 10 weeks with inflation concerns, as the main dollar index, which measures the performance of the greenback against 6 major currencies, recorded 90.205 after hitting its lowest level since February 25th earlier in the session.

The British pound rose against the US dollar to $ 1.416, the highest level since February 25, and the Canadian dollar rose 0.36% against the US dollar, the highest level since September 2017. The five-year inflation rate, which measures five-year inflation expectations, rose to its highest level since April 2011, and the 10-year breakeven inflation rate, a measure of 10-year inflation expectations, rose to its highest level since March 2013.