The dollar index which measures the currency against six rivals, was down about 0.8%.on Sunday its decision to reduce oil supply by about 1.16 million barrels per day.
The decision pushed oil prices up over 6% on Monday and drove dollar strength initially, although it was short-lived. Investors are on diverging central bank policy with the Federal Reserve widely viewed as nearing the end of its rate-hike cycle.
Please can someone explain this to a non financial person? I’ve read it twice and I understand the individual words but have no idea what it means