According to a Bloomberg report, the US dollar weakened against 15 of its 16 most traded currencies. Gains in stocks, commodities, and improved corporate earnings are the reasons many analysts believe has reduced the demand for the US dollar, which is considered a safe haven.
The Australian dollar rose consecutively for the second day, and reached the highest this month against the dollar as the country’s Central Bank announced further increase in benchmark interest rate. According to the median forecast of 32 analysts in a Bloomberg survey, Australian Dollar will rise to 91 cents by the end of March.
The euro snapped a four-day decline versus the dollar amid Greece’s financial turmoil.
