USD fell broadly against a basket of other major currencies on Friday after data showed that United States economic growth accelerated in the second quarter, while wage growth remained slow.
The dollar index, which measures the strength of the USD versus a basket of six major currencies, fell 0.61% to hit 93.20, its lowest level since June 22, 2016.
The index has fallen by 2.3% so far this month, and has fallen about 9% for the year so far.
The Ministry of Commerce said on Friday that gross domestic product GDP rose at an annual rate of 2.6 % in the three months to June, including a boost in consumer spending. That was more than double the 1.2% growth in the first quarter.
While separate reports showed that wage growth and inflation remained weak in the second quarter.
Next week, investors will focus on the united status jobs report released on Friday for new indicators on the likely direction of Fed policy until the end of the year.
The focus will also be on central bank meetings in the UK and Australia. Meanwhile, the eurozone will release preliminary data on inflation and second quarter growth.
:Following are the most important events expected this week
Monday 31 July
China will publish data on the manufacturing and service sectors.
New Zealand will issue a report on business confidence.
The eurozone will also publish preliminary estimates of inflation, while Germany will release a report on retail sales.
The United Kingdom will publish net lending data.
The United States will also release data on pending home sales and business activity in the Chicago area.
Tuesday 1 August
China will publish a report on the Industrial Purchasing Managers Index (SEZEN).
The Reserve Bank of Australia will announce its benchmark interest rate and publish a price statement that will determine the economic conditions and factors influencing the monetary policy decision.
The euro zone will release preliminary data on economic growth for the second quarter.
The UK will also publish data on manufacturing activity.
The United States will publish data on personal spending, and the Supply Management Institute will publish a report on its manufacturing index.
Wednesday, 2 August
New Zealand will issue its quarterly employment report.
Australia will report on building approvals.
The United Kingdom will also publish data on construction activity.
The US non farm payrolls report will be released.
Thursday, 3 August
Australia will report on the trade balance.
The United Kingdom will publish data on the activity of the service sector.
The Bank of England will also announce its latest interest rate decision and will publish its meeting minutes with the quarterly inflation report. Bank of England Governor Mark Carney is scheduled to hold a press conference with other officials to discuss the inflation report.
The United States will publish data on unemployment claims, factory orders and publish a report on the non manufacturing PMI.
Friday, 4 August
The Reserve Bank of Australia will publish the latest monetary policy statement, while Australia will release a report on retail sales.
Canada and the United States are due next week to release trade data, and the two countries will also set their monthly employment reports