The US dollar rate continues to drop against many major world currencies on the statements of representatives of the Federal Reserve System and in anticipation of the US-China summit, according to MarketWatch.
According to analysts, the movement of the American national currency largely depends on the actions of the US President Donald Trump. His upcoming meeting with President of the People's Republic of China Xi Jinping can clarify the US foreign trade policy that "will point the direction of the market," believes the senior currency analyst Rabobank Jane Foley.
The indicator WSJ Dollar, monitoring the dynamics of the dollar against 16 major world currencies, remained almost at the closing level on Friday.
The ICE U.S. Dollar index, which shows the value of the US dollar against the six major world currencies, fell 0.02%.
Last week, ICE U.S. Dollar demonstrated a rise for the first time in a month - by 0.7%, according to FactSet. Nevertheless, it lost 0.9% for March, while the decline for the first quarter was 1.7% (after a jump of 7.1% in October-December last year).
The chairman of the Federal Reserve Bank of New York, William Dudley, said on Friday that the current forecast, which implies three rate hikes in 2017, including the March increase, is justified. However, he noted that the question of the exact number of increases will depend on the state of the US economy.
The US data published on Friday showed that consumer spending rose by only 0.1% last month, which increased the likelihood that the Fed will keep a gradual increase in interest rates.
Euro rose to $ 1.0672 against $ 1.0652 at the close of the previous session.
The rate of the single European currency to the Japanese currency rose to 119.01 yen compared to 118.67 yen a day earlier. The dollar/yen rose to 111.51 yen against 111.39 yen on Friday.