Dollar Plummets to Six-Week Low on Weaker Economic News and Yen Intervention

The US dollar index plummeted to a six-week low on Thursday, losing 0.99% of its value.

This decline was triggered by weaker-than-expected economic news from the US, including Q2 GDP growth at 1.5%, which fell short of the predicted 2.0%.

The dollar's losses accelerated after the Japanese yen surged to a two-and-a-half-month high against the dollar on suspected intervention by Japanese authorities to prop up the yen.