US dollar down against Kuwaiti dinar

Exchange rate of the US dollar went down to reach KD 0.285, while the euro was up to KD 0.371 compared to Thursday's figures, said the Central Bank of Kuwait (CBK) on Sunday. The exchange rate of the sterling was up to KD 0.434, the Japanese yen remained unchanged at KD 0.003, and the Swiss franc increased to reach KD 0. 299. Major currencies fluctuated over the last two days following economic developments and release of data in the United States, including US Personal Income data for April which indicated stability, whereas forecasts had predicted a 0.1 percent increase. Meanwhile, US Consumer Spending data for April showed a drop of 0.2 percent, whereas forecasts had predicted stability in the main indicator of the world's biggest economy. The US is expected to tone down stimulus policies, but whether such a step goes through depends on whether the US economy realizes recovery before fall. Delay in taming down the stimulus policies till fall would weigh down the US greenback, as the US Federal Reserve goes on with quantitative easing measures which include printing of new banknotes on the basis of supply and demand.