The US dollar has sunk through major support levels and looked set for its worst week in a month on Friday, as its accelerating slide sucked in more short sellers keen to make an easy buck. It has slumped to a nine-month low against the safe-haven yen, even though investors have been gobbling up risky assets all week, and fallen to multi-year lows against the euro, pound, Aussie, kiwi and Canadian dollar, Reuters reports. Against a basket of currencies the dollar languished at 89.862 on Friday, just above a 2-1/2-year low hit on Thursday. The dollar index is down by 1.2 percent for the week so far and has fallen by 12.7 percent from a three-year peak in March. The greenback last traded at 103.28 yen after falling as far as 102.88 yen overnight.

Source: The Standard December 18, 2020 01:41 UTC