# Dollar heads for biggest monthly drop in a decade as virus fuels US economy fears - Markets - Business Recorder

> The dollar extended its fall on July 31, putting it on course for its biggest monthly drop in a decade, with the euro touching $1.19. The dollar index fell to 92.546, its lowest since May 2018, and was down 4.9% in July. Investors cited the coronavirus surge and a stalling US recovery.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/52339-dollar-heads-for-biggest-monthly-drop-in-a-decade-as-virus-fuels-us-economy
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar generally supports dollar-priced commodities, which can help firm feed ingredient prices for importers.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-28 | [US dollar skids to 3-1/2-month low, headed for biggest monthly drop in a year](https://feedsoft.ai/events/33361-us-dollar-skids-to-3-1-2-month-low-headed-for-biggest-monthly-drop-in-a-year.md) | +0.2% | -1.1% |
| DXY | 2022-05-28 | [Dollar heads for weekly drop as traders pare Fed rate hike views - Business & Finance - Business Recorder](https://feedsoft.ai/events/41616-dollar-heads-for-weekly-drop-as-traders-pare-fed-rate-hike-views-business-and.md) | +0.0% | +2.0% |
| DXY | 2020-07-31 | [Dollar extends dramatic fall in European trade - Markets - Business Recorder](https://feedsoft.ai/events/52332-dollar-extends-dramatic-fall-in-european-trade-markets-business-recorder.md) | -0.3% | -0.6% |
| DXY | 2021-04-16 | [Australia, NZ dollars set for strong weekly gains as US dollar sags - Markets - Business Recorder](https://feedsoft.ai/events/47856-australia-nz-dollars-set-for-strong-weekly-gains-as-us-dollar-sags-markets.md) | -0.3% | -0.9% |
| DXY | 2021-08-30 | [Most Asian currencies firm as waning taper fears pressure US dollar - Markets - Business Recorder](https://feedsoft.ai/events/45811-most-asian-currencies-firm-as-waning-taper-fears-pressure-us-dollar-markets.md) | -0.7% | +0.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40009225

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.