Dollar index shifts under the 100 mark threshold

The dollar index slipped lower on Monday and shifted below the 100 mark pressured by easing Federal Reserve rate momentum and suspected Japanese intervention in currency markets. Easing crude oil prices amid renewed trade talks also kept the greenback subdued. The Japanese yen surged up to 1.4% to reach a three-month high of 155.20 per dollar following reports that Japan and the U.S. conducted coordinated operations, with reports indicating massive dollar-selling to support the yen. Besides, President Donald Trump said peace talks with Iran will resume today, sending oil prices lower and easing concerns over inflation and the interest rate outlook. Investors now turn their focus to Fridays closely watched monthly jobs report. The dollar index that measures the greenback against a basket of currencies is last seen trading at 99.55, down 0.23% and at its lowest level in around 7-weeks.

 

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