21:04 GMT18 September 2020
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    The dollar fell not only against major currencies but also against emerging Asian ones, as analysts project it will remain extremely low in the near future.

    The British pound hit $1.3402, its highest price since December 2019, after the Japanese foreign minister said that the UK and Japan are close to signing a trade deal.

    The dollar was at 0.9021 Swiss francs, falling close to its lowest point in more than five years. While it is set to remain low, it is unlikely to lose its status as the world's reserve currency, according to analysts.

    The US currency has reacted mostly to the global coronavirus pandemic and low interest rates recently. The Vice-Chairman of the US Federal Reserve, Richard Clarida, said on Monday that the body will likely keep interest rates at near-zero until it sees sustainable inflation.

    President Donald Trump had criticised the Federal Reserve before the coronavirus outbreak in March and urged the central bank to implement negative interest rates to further boost economic growth.

    Tags:
    Federal Reserve, interest rates, COVID-19, economy
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