World Biz
U.S. dollar edges down as IMF lowers 2019 global growth forecasts
Last Updated: 2019-04-10 04:22 | Xinhua
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The U.S. dollar declined against its major rivals in late trading on Tuesday as market sentiment was dented by the downbeat forecasts on global growth by the International Monetary Fund (IMF).

The IMF on Tuesday lowered its global growth forecast for 2019 to 3.3 percent in the newly-released World Economic Outlook report, down 0.2 percentage point from its estimation in January.

The latest projection for 2019 is 0.3 percentage point below the 2018 figure, followed by an expected return to 3.6 percent in 2020.

The IMF said the world economy faces downside risks brought by potential uncertainties in the ongoing global trade tensions, as well as other country- and sector-specific factors.

The dollar index, which measures the greenback against six major peers, was down 0.05 percent at 97.0049 in late trading.

In late New York trading, the euro increased to 1.1266 U.S. dollars from 1.1261 dollars in the previous session, and the British pound was down to 1.3042 dollars from 1.3066 dollars in the previous session. The Australian dollar decreased to 0.7125 dollar from 0.7126 dollar.

The U.S. dollar bought 111.11 Japanese yen, lower than 111.51 Japanese yen of the previous session. The U.S. dollar increased to 0.9995 Swiss franc from 0.9990 Swiss franc, and it increased to 1.3322 Canadian dollars from 1.3311 Canadian dollars.

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