In the currency markets, the value of the dollar against a basket of currencies plunged last week to its lowest levels in more than three years, but due to the conflict between Israel and Iran, the dollar on Friday moved somewhat away from those levels.
The dollar index, which shows the value of the United States (U.S.)currency against six of the world’s most important currencies, fell last week by 1.1 percent, to 98.14 points. Meanwhile, the euro exchange rate jumped 1.4 percent, to 1.1550 dollars.
The U.S. currency also weakened against the Japanese yen, by 0.5 percent, so the price of the dollar slipped to 144.10 yen.
The dollar‘s drop for the second week in a row is mostly a result of investor uncertainty due to the unclear, capricious trade policy of U.S. President Donald Trump.
Because of that, the dollar index on Thursday plunged to just 97.80 points, the lowest level since March 2022.
