Dollar index languishes around two-month low
The dollar index is lingering around a two month low in early Asia on Friday following Federal rate cut and Feds plans to buy short-dated Treasury bills to support market liquidity, pushing yields lower and adding pressure on the dollar. Further, data from US Department of Labor showed the number of Americans filing new applications for unemployment benefits increased by the most in nearly four and a half years last week. This weaker-than-expected jobs data weighs on the greenback. The dollar index that measures the greenback against a basket of currencies is quoting at 98.04.
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