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Dollar rebounds from 3-year low amid Fed holiday

Dollar rebounds from 3-year low amid Fed holiday

Mubasher: The US dollar on Monday recovered as the Federal Reserve Bank and US stock and treasury markets were closed for President’s day holiday.

Bloomberg’s dollar index, which measures the US currency against six major currencies, inched up 0.02% to 89.119 by 10:45 am GMT.

Last week, the US currency index dropped to its lowest level in 3 years below 89, hit by political uncertainty and mixed economic data.

US markets are scheduled to resume working on Tuesday.

China and Hong Kong markets were also still closed due to the Lunar New Year celebrations.