Sat, November 26, 2022

The Dollar’s Uptrend Interrupted

dollar

The dollar fell to a three-week low against its main rivals on Wednesday. This has fueled rumors of a less aggressive Federal Reserve, further evidence that the U.S. economy is deteriorating.

Ahead of the Reserve Bank’s rate decision next week, the Australian dollar gained just shy of the previous session’s 2 1/2-week high due to hotter-than-expected inflation statistics. After new British Prime Minister Rishi Sunak promised to steer the country out of an economic crisis and kept Jeremy Hunt as finance minister, the pound clung to the six-week high set on Tuesday.

Outlook on Global Financial Market

Yen’s sensitivity to U.S. interest rates put pressure on the dollar’s position against it. Despite this, the dollar managed to gain 0.22% to 148.265 and somewhat recover from Tuesday’s 0.7% decline. The dollar rose to a 32-year high against the yen on Friday, reaching 151.94. However, it dropped to 144.55 after two episodes of alleged Bank of Japan (BOJ) intervention. The BOJ should maintain stimulus levels on Friday, contrary to developed-market counterparts’ monetary tightening. However, fundamentals still support a lower yen.

YOU MAY ALSO LIKE

oil

The G-7 May Impose a Price Cap on Russian Oil The Group

dollar

Investors’ concerns over the possibility of the Federal Reserve slowing the tightening

Regulators Eye Twitter and Broader Tech Layoffs

Twitter is under “investigation” by Ireland’s Data Protection Commission. The question is

COMMENTS

Leave a Comment

Your email address will not be published.

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spreads
    Sending
  • Trading Instument
    Sending

BROKER NEWS

BROKER NEWS

Stock Report – stock exchange background – WibestBroker

Futu’s Net Profit Rises 23%, Despite Drop in Trading Vol

Futu, an online brokerage that provides Chinese investors with access to the Hong Kong and US stock markets, has released its unaudited third-quarter financial results. The company reports a 12.4% increase in revenue, reaching