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Currency Brief: Dollar Slips in February Against Major Apparel Currencies

The rising dollar was tempered a bit in February compared to recent months, with the U.S. dollar index closing down by 1.4%.


With the notable exception of the UK pound, most key apparel currencies rose against the dollar in the month, with the yen strengthening the most against the U.S. currency.

The euro fell by 0.4% against the U.S. dollar, closing the month 11.5% below year-ago levels.


The U.K. pound sterling fell by 3.1% against the dollar in the month, ending 11.4% lower than a year ago.


The Chinese yuan edged up by 0.4% in February, to 6.5% below its year-ago level.


The Indian rupee rose by 1.9% in the month, 7.8% lower year-over-year.


The Indonesian rupiah rose by 3.3% relative to the dollar in February, but remained 4.1% lower than the same month in 2015.


The Pakistani rupee edged up by 0.2% in the month, bringing its full-year decline to 2.8%.


The Bangladeshi taka was flat in December, continuing the relatively stable trend of the past few months, with a year-over-year decline of less than 1 percent.


The Vietnamese dong rose by 0.6% relative to the dollar in the month, but remained 3.8% below last February’s value.CurrencyDong

The Japanese yen has been rallying of late, and gained 6.3% in February compared to January, bringing its full-year increase to 4.9%.