The Dollar Is Continuing Its Slide
This week doesn't look any better than last week so far.
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After suffering through one of its worst weeks in quite a while, things aren't getting any easier for U.S. dollar on Monday. The Dollar Spot Index is down again today, thanks in part to rallies by the euro and Swiss franc.
As you can see when we back out and look at the one-month chart, the dollar had been having a great March—right up until the FOMC meeting last Wednesday, when the Fed indicated that interest rate hikes might come later and slower than previously thought, and that export growth was becoming a concern. That news led to the dollar's worst week since 2011.