The US dollar had begun to decline to a one -week low against a basket of currencies on Monday as stocks continued to post surges. Market players are waiting for a boost that changes market currents.
The U.S. dollar has recently soared in tandem with rising U.S. Treasury yields. as investors bet on U.S. economic growth. faster and higher inflation when the economy reopens after the closure of COVID-19-related businesses.
Usually the greenback moves in line with the movement of stocks. Thus, investors are examining whether this opposite correlation will continue or not. Therefore, all economic reports will be a measure.
The US dollar fell sharply on Monday as stocks strengthened. It was last down 0.45% against a basket of major currencies at 92.632.
The greenback strengthened on Friday after data showed that the U.S. economy created the most jobs in seven months in March and a broader vaccination program.
