The dollar was set for its biggest monthly loss against a basket of currencies since July, having wiped 2.5% off its value in November. At 0836 GMT it was at 91.654. LONDON: The dollar hit its lowest in two and a half years in early London trading on Monday while riskier currencies dipped slightly as the global equities rally paused for breath. Global market sentiment surged in November, causing the dollar to fall and riskier currencies to benefit, as investors' risk appetite was boosted by Joe Biden's victory in the U.S. presidential election, a series of positive COVID-19 vaccine developments and hopes for further stimulus. The dollar was set for its biggest monthly loss against a basket of currencies since July, having wiped 2.5% off its value in November. At 0836 GMT it was at 91.654. The New Zealand dollar, which is on track for its biggest monthly gain since 2013, hit a new two-year high overnight, then declined steadily. In early London trading, it was flat on the day at 0.7034 versus the dollar. "The improving outlook for global growth combined with strong signals from the Fed that it will maintain loose monetary policy well into the economic recovery have been encouraging a weaker U.S. dollar," wrote MUFG currency analyst Lee Hardman in a note to clients. "Asian and commodity related currencies have also been benefiting from the outperformance of China,
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