The dollar fell against a basket of peers on Friday, retreating from a 13-month high hit earlier this week, on lower demand for the safe-haven greenback and some profit-taking, as worries about trade tensions between Washington and Beijing eased.
The dollar index , which measures the greenback against a basket of six other currencies, was down 0.56 percent at 96.107, on pace for its worst daily decline in nearly a month.
“You had the dollar bought aggressively over the past few months when investors were risk-averse and were seeking safety in the greenback,” said Kathy Lien, managing director of FX strategy at BK Asset Management in New York.
Published in Daily Times, August 19th 2018.
Challenge Fashion (Pvt) Ltd, a Chinese textile company, has acquired 100 acres of land in…
Pakistani Rupee on Monday lost 09 paisa against US dollar in the interbank trading and…
The per tola price of 24 karat gold increased by Rs 2,300 and was sold…
The Gwadar Women Garment Factory, also known as the Gwadar Women’s Development Employment Center, has…
The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 258.34…
Federal Minister of Industries and Production Rana Tanveer Hussain said on Monday that economic revival…
Leave a Comment