24hoursworld

The super dollar sinks and almost erases the gain of Monday

The super dollar sinks and almost erases the gain of Monday

In the UK, too the Bank of England is expected to raise interest rates by 75 points basics the Thursdaybefore reducing its rate of increase to 50 basis points in December.

The dollar index -which measures the performance of the greenback against six rivals- falls 0.7%, to 110,680 on Tuesday, subtracting almost all of the previous day’s gain of 0.8%.

The British pound rose 0.8% to $1.1553, while the operators waited for the meeting of the Bank of England, after falling more than 1% on Monday.

For its part, Euro rises 0.6% to $0.9942a day after it became known that the inflation October’s annual rate reached 10.7%, which represented an acceleration against the previous month’s record and the highest figure since 1997, when the records began to be compiled.

Investors have become highly sensitive to any signs that the Federal Reserve and other major central banks may slow rate hikes.

The yen rises against the greenback and adds 0.7% to 147.68 units per dollar. Last week the Bank of Japan ratified its decision not to change interest rates, but announced a plan to $200 billion to combat inflation.

The Chinese yuan meanwhile it’s tuesday its lowest level in 15 years against the dollar before cutting its losses, after the central bank fixed the official exchange rate at 7.2 units per dollar for the first time since 2008.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts