You are here
US dollar suffers worst day in 7 years on signs of slowing economy, down 1% against Singdollar
[NEW YORK] The US dollar plunged by the most since the Federal Reserve announced the start of its Treasury bond-buying programme seven years ago, as signs of a slowing US economy helped derail bets on diverging policies between global central banks.
The US currency sank at least 1.7 per cent against nine of its biggest peers amid concern that growth in the world's largest economy is cooling. The US dollar also fell to its lowest since the start of this year to the Singapore dollar. One US dollar was trading at 1.4153 to the Singdollar as of 8:59 am, down 1.08 per cent from its Wednesday's close.
Read the full story here.