Dollar Rebounds From Two Year Low – 28 July, 2020

After a rocky decline to a two year low, the dollar is bouncing back ahead of a Federal Reserve meeting where plans over the next U.S. stimulus package are expected to be hashed out. The Japanese yen dipped 0.3% to 105.65, while the euro had a 0.2% decline to $1.1725. The New Zealand dollar reached an eight month high of $0.6702 before settling at $0.6656, and the Australian dollar fell 0.2% to $0.7133. The pound was slightly lower than its previous four month high at $1.2850. Against a basket of major currencies, the dollar index rose from a two-year high low of 93.429 to 93.918.