Dollar Slides as Investors Regain Confidence in Global Economy

Investors have sold the dollar and begun buying riskier currencies on optimism about an economic recovery as countries emerge from coronavirus lockdowns.

The ICE U.S. Dollar Index, which measures the greenback against a basket of currencies, hit its lowest level since mid-March on Monday, dropping as much as 0.5% before recovering somewhat. Currencies that tend to gain when risk appetite returns rose against the dollar, with the Australian dollar up 1% and British pound 0.3% higher.