The exchange rate of the US dollar weakened against a basket of other major currencies at the end of trading Wednesday (Thursday morning WIB), depressed by fears of widespread global economic slowdown
coupled with the prolonged closure of the US government which has dimmed the prospects of the currency.
The attractiveness of the greenback as a safe-haven currency eased amid signs of a slowing economy The dollar weakened, fears the prospects for global growth to expand. The International Monetary Fund (IMF) on Monday (21/1) revised the outlook for global economic growth for 2019 to 3.5 percent from the previous estimate of 3.7 percent.
“After two years of solid expansion, the world economy is growing slower than expected, and risks are rising,” IMF Managing Director Christine Lagarde at the World Economic Forum in Davos, Switzerland, was quoted as saying by Xinhua.
Meanwhile, closing part of the United States government has entered its 33rd day on Wednesday (1/23),
with only a few signs of progress to end the deadlock between US President Donald Trump and the US Congress.
The US dollar index, which measures the greenback against six other major currencies, fell 0.19 percent to 96.12 at the end of trading.
In late New York trade, the euro rose to 1.1382 dollars from 1.1362 dollars in the previous session, and the British pound rose to 1.3063 dollars from 1.2956 dollars in the previous session.
The Australian dollar rose to 0.7141 dollars from 0.7118 dollars.
The US dollar bought 109.57 Japanese yen, higher than 109.29 Japanese yen in the previous session. The US dollar fell to 0.9947 Swiss francs from 0.9970 Swiss francs, and fell to 1.3343 Canadian dollars from 1.3349 Canadian dollars.