Super dollar gained ground and the pound hit its lowest in 37 years

The dollar Index, which measures the greenback against a basket of currencies, rose to 109.74. Earlier in the month it hit a two-decade high of 110.79 and closed the week higher.

The dollar advances 0.2% and stands at 109,620 units. The British pound weakens to 37-year low Against the US dollar, it fell 0.5% and stood at 1.140, driven by retail sales that fell more than expected.

The local rate of the yuan It also broke the key level shortly after the markets opened on Friday.

Sterling fell against the dollar to a new 37-year low of $1.13. and was down 0.7% at $1.1388, while the euro was down 0.04% at $0.9995.

While, the yen strengthened 0.39% against the greenback to 142.95 units per greenback.

The World Bank and International Monetary Fund For their part, they warn about the slowdown in economic activity, which coincides with the projection of the International Energy Agency (IEA) that projects a drop in the demand for fuels for the last quarter. The chief economist of the WB, Indermit Gill, He said on Thursday that he was worried about a period of low growth and high inflation in the world economy.

The IMF said downside risks continue to dominate the global economic outlook, but that it is too early to say whether there will be a widespread global recession, while the entity’s managing director, Kristalina Georgievasked the central banks for persistence in the fight against inflation.

The European Central Bank expects that an economic slowdown in the euro zone will not be enough to control inflation, and the bank would have to continue raising interest rates.

“Now we see that the data confirms that the economy is slowing down,” he said. Axel Rudolph, market analyst at IG Group in dialogue with Reuters. “The expectation is that equities will fall back below their March lows. We are in an environment where central banks hike rates aggressively, historically this has always led to bear markets.”