US dollar plummets to 6-week record low

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The dollar sank to a six-week record low following data that showed that the largest economy in the world produced fewer jobs than was expected this month. It is a sign of there is a chance that Federal Reserve is likely to keep interest rates at a steady level in December at its session. Dollar index which is a measure of the value of the greenback against the major currencies of six was down 1.1 percent to 105.03 following a drop to 104.93 the lowest level since September. 20. The index was set to record its biggest one-day drop since the beginning of July.

The week-long greenback fell 1.4 percent. It was on course for the worst performance of the week since the beginning of July.


Source: cnbc.com

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