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Data: FactSet; Chart: Axios Visuals

The dollar fell sharply on Thursday against almost all of the world's major currencies, and the dollar index dropped to its lowest since April 2018.

The big picture: The index, which measures the dollar against major currencies like the euro, yen and British pound, fell 0.7%, its fourth daily decline in a row and the fifth time in six sessions it has closed lower.

  • It's approaching its weakest level since the dollar strengthening cycle began in 2014.

What they're saying: “The latest blow to the dollar came from the Fed, which vowed not to touch policy even if the outlook for the U.S. economy brightens as it now expects,” Joe Manimbo, senior analyst at Western Union Business Solutions, told MarketWatch, adding that expectations for more government spending are also weighing on the greenback.

Watch this space: Gold jumped by 1.7% to $1887.20 per troy ounce, its highest since Nov. 16, and silver gained 2.4% following a 3.8% increase on Wednesday and is now at $25.74 per troy ounce, the highest since Nov. 6.

  • The dollar index is down nearly 7% year to date and 13% lower since hitting its 2020 high in March.

On the other side: The Chinese yuan has gained significantly against the dollar this year and on Thursday moved to 6.53 yuan per dollar, its strongest against the dollar since June 2018.

  • The dollar also is trading at or near multiyear lows against major currencies including the euro, Japanese yen and Australian dollar.
  • The euro rose through the psychologically important $1.22 level against the dollar early Thursday and could push through $1.25, analysts say.

Go deeper

Dollar General will pay staff to get COVID-19 vaccine

Photo: Jeremy Hogan/SOPA Images/LightRocket via Getty Images

Dollar General is offering four hours of pay to its 157,000 employees if they get a coronavirus vaccine, the Wall Street Journal reports.

Why it matters: The company is one of the first major retailers to incentivize its employees to receive the vaccine. Stores and businesses that have frontline workers are currently vying for accelerated access to vaccines — hoping that early inoculation could boost customer confidence.

Kaine, Collins' censure resolution seeks to bar Trump from holding office again

Sen. Tim Kaine (center) and Sen. Susan Collins (right). Photo: Andrew Harnik/Pool via Getty Images

Sens. Tim Kaine (D-Va.) and Susan Collins (R-Maine) are forging ahead with a draft proposal to censure former President Trump, and are considering introducing the resolution on the Senate floor next week.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction, Axios Alayna Treene writes. "I think it’s important for the Senate's leadership to understand that there are alternatives," Kaine told CNN on Wednesday.

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.

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