Dollar tumbles in aftermath of Yellen's dovish comments
CNBC - Mar 30, 2016
The U.S. dollar hit its lowest level against the euro in nearly seven weeks on Wednesday following dovish comments from Federal Reserve Chair Janet Yellen that pushed out expectations for the central bank's next interest rate hike.
The euro advanced to $1.1364, its highest against the dollar since Feb. 11, while the dollar hit a more than five-month low against the Swiss franc at 0.9592 franc.
The dollar index, which measures the currency against a basket of six major rivals, hit its lowest level in 12 days at 94.588 after posting its biggest one-day percentage decline since March 17 on Tuesday.
The ADP National Employment Report showed U.S. private employers added 200,000 jobs in March, above economists' expectations. The data came ahead of the U.S. Labor Department's more comprehensive March non-farm jobs report on Friday.
