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The dollar increases its losses after a significant drop in US consumer confidence

 The dollar fell against most of the major currencies during trading today, Friday, and deepened its losses in the wake of the release of negative economic data that showed a sharp decline in US consumer confidence.



The average rate of daily infections with the Corona virus increased in many countries around the world, most notably the United States, which is witnessing a new wave of the pandemic.



This comes at a time when the mutated "Delta" strain is spreading, which is fast-spreading and more deadly.



In a separate context, government data issued according to a joint survey between the University of Michigan and Reuters revealed that the US consumer confidence index fell to 70.2 points this month, while analysts' expectations indicated that the index would stabilize at 81.2 points, unchanged.




This, and the US Senate had approved earlier this week a bill to spend on infrastructure worth a trillion dollars, which in turn supports economic growth.



In terms of trading, the dollar index fell - against a basket of major currencies - by 17:39 GMT by 0.6% to 92.5 points, and recorded the highest level at 93.01 points and the lowest level at 92.4 points.

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