USD in the worst weekly performance since April 2016


The US dollar fell, extending its worst weekly performance since April 2016 against a basket of major currencies and sheds on gains since Donald Trump was elected president of the United States.
The dollar index, which measures the strength of the currency against a basket of six global currencies, lost more than 2 percent this week. The index fell 0.75 percent to its lowest level since Nov. 9, the day after the US election.
The dollar is under pressure from the storm caused by Trump’s dismissal of FBI chief James Komi, who was overseeing an investigation into possible links between the president’s team and Russia.
The US currency was also affected by the recovery of the euro, which has the largest weight in the basket of the dollar index. The single currency rose more than 2.5 percent this week, heading towards its best performance since February 2016. The currency rose 0.95 percent to a six-month high of $ 1.1205.
Against the Swiss franc, which is considered a safe haven, the dollar fell 0.65 percent touching its lowest price in six months. The currency is heading for its biggest weekly drop in percentage since February 2016.
The dollar fell 0.3 percent against the yen to 111.14 yen and was its first weekly drop against the Japanese currency in five weeks.

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