The dollar stabilizes this Wednesday, March 29 against most major currencies, halting his recent fallsand rose strongly against the yen, which has been volatile as the end of the Japanese fiscal year approaches.
The index dollar, which compares the greenback with a basket of six leading currencies, operates stable at 102.23 units, gaining 0.1% in early operations. The dollar had been down for two sessions and is heading for a monthly drop of 2.1%, victim of the market failures induced by the problems of the banking sector.
He euro rises slightly, to $1.0855, and the pound sterling It was trading steady at $1.2343, after hitting a nearly two-month intraday high of $1.236.
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“We have returned to calm, but I don’t think it’s all over. Like water finds cracks, the market is looking for weak spots and it’s about how and who will fare best in a high interest rate environment,” said Jane Foley, from Rabobank.
He and in is volatile ahead of the end of the Japanese fiscal year on Friday. The dollar hits a week high against the Japanese currency and rises 0.7% to 131.85 yen, while the euro improves 0.7% against the yen to 143 units.
Last week, the yen hit its highest level in almost two months against the dollar and the euro, benefiting from a flight to safety, but Foley said the market could be seeing less of a need for safe haven this week.
The dollar fell 0.5% against the yen the day before, when it unusually moved in the opposite direction to the performance of the long-term US treasury bondswhich has been rising as calm returns to the markets.
Source: Ambito
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