Economy

Title: Dollar Declines Amid Efforts to Mitigate Silicon Valley Bank Collapse Impact

Title: Dollar Declines Amid Efforts to Mitigate Silicon Valley Bank Collapse Impact

The dollar fell on Monday as U.S. authorities intervened to curb the repercussions of the sudden collapse of Silicon Valley Bank (SVB), with investors hoping that the Federal Reserve would adopt a less aggressive monetary policy. The dollar index, which measures the U.S. currency against six others, dropped by 0.153% to 104.080. The Japanese yen rose by 0.34% to 134.52 against the dollar, marking its highest level in a month as investors turned to Asian currencies considered safe havens. The euro increased by 0.44% to 1.069 dollars, while the latest price for the British pound reached 1.2085 dollars, up 0.47% for the day. The Australian dollar climbed by 0.79% to 0.663 dollars, and the New Zealand dollar also rose by 0.36% to 0.616 dollars.

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