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US dollar extends losses amid bank holiday

US dollar extends losses amid bank holiday

Mubasher: The US dollar continued falling against major currencies on Monday, coinciding with US markets being closed for the Martin Luther King Jr. day.

By 09:30 am GMT, the EUR/USD pair jumped 0.34% to $1.2243, while the GBP/USD rose 0.20% to $1.3756.

Meanwhile, the greenback dropped 0.43% against the Japanese yen to 110.58 and fell by around 0.30% versus the Indian rupee, which had surged by about 5.5% against the US currency during 2017.

The dollar index last retreated by 0.45% to 90.569.

The currency’s extended weakness comes as companies continue revealing their earnings statements and ahead of several important data including the homebuilders’ index and housing starts.