The solidity of the US employment data and the rhetoric of the authorities of the Federal Reserve this month about your willingness to keep raising rates if necessary in the fight against inflation have made the dollar erases its losses in so far this year.
He dollar indexwhich compares the greenback to a basket of six prominent currencies, rises 0.1% to 104.71, near the high in nearly seven weeks of 104.78 touched on Thursday. The measure is up 2.5% on the month.
“The dollar continues its fourth straight week of gains, highlighting just how much the market narrative has changed, as this week’s data continues to highlight the strength of the US economy and underlying inflation drivers. “, said simon harveyMonex’s head of currency analysis in dialogue with Reuters.
He euro and pound sterling they were trading flat at $1.0586 and $1.2021, respectively.
The new head of the Bank of Japan, Ueda, who was appointed by surprise earlier in the month, warned that the Uncertainty about the country’s economic recovery remains “very high”which justifies maintaining its ultra-lax monetary policy.
He yen was volatile and subtracted 0.3%, at 135.06 units per dollarafter hitting its highest level since Monday in Asian trading.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
