Economic news

Currency review: euro and pound dip, while yen and buck rise

Fed’s “patient” approach did not play into the hands of the U.S. dollar, which has been subjected already to pressure this year after Powell announced a pause in the monetary tightening cycle at the previous meeting.

currency review 2003

The dollar’s index in relation to the basket of six major currencies had reached its minimum of 96.288 in 2-½ weeks the day before, and this figure rose by 0.11 percent to 96.51 at 8.43 GMT on Wednesday.

  • The euro fell 0.14 percent, having reached $1.1337, although yesterday it touched almost a two-week high of $.1362.

  • Japan’s yen grew by 0.18 percent to 111.60, having already forgotten its 9-day high of 111.90, marked on Friday.

  • The Australian dollar slipped 0.03 percent to $0.7084, as the country's bond yields plummeted to multi-year lows due to expectations of lower domestic interest rates.

  • Britain’s pound became a Brexit saga hostage, down by 0.38 percent to $1.3217.

One assumes that Theresa May will ask the EU to postpone Brexit for at least three months in particular after the recent intervention of the Speaker of Parliament.


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