Home » Business » The dollar is near a 16-week low…and strong gains for the yuan

The dollar is near a 16-week low…and strong gains for the yuan

united statewhich is expected to be released on Friday, seeking guidance on how rising interest rates will affect the job market.

price movements

the index has dropped dollarwhich measures the performance of the US currency against 6 other major currencies, including yen And the euro, up 0.1% to 104.55, after hitting its lowest level since June 29 at 104.36.

The index fell more than 5% last month on expectations that the US Federal Reserve will start easing the pace of interest rate hikes at its December meeting.

In the meantime it has gone up chinese yuan By 0.4% against the dollar, at 7.0294.

The yuan is heading for its biggest weekly gain since China revalued the currency in 2005, according to data from Refinitiv, supported by expectations that China will ease policy. "Zero covid"In addition to anticipating the slowdown in the rate hike by the US Federal Reserve.

The dollar fell 1% to 133.98 yen, its lowest level since August 16.

testified EUR It changed slightly and reached $1.0527, after rising 1.1% on Thursday.

withdraw GBP by 0.1%, to $1.2260.

It rose 1.7% on Thursday to hit a five-month high of $1.2311.

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Investor focus is currently on nonfarm payroll data bunited statewhich is expected to be released on Friday, seeking guidance on how rising interest rates will affect the job market.

price movements

the index has dropped dollarwhich measures the performance of the US currency against 6 other major currencies, including yen And the euro, up 0.1% to 104.55, after hitting its lowest level since June 29 at 104.36.

The index fell more than 5% last month on expectations that the US Federal Reserve will start easing the pace of interest rate hikes at its December meeting.

In the meantime it has gone up chinese yuan By 0.4% against the dollar, at 7.0294.

The yuan is heading for the biggest weekly gain since China revalued the currency in 2005, according to Refinitiv data, supported by expectations that China will ease its “zero Covid” policy, as well as anticipation of slowing pace from part of the US Federal Reserve increases interest rates.

The dollar fell 1% to 133.98 yen, its lowest level since August 16.

testified EUR It changed slightly and reached $1.0527, after rising 1.1% on Thursday.

withdraw GBP by 0.1%, to $1.2260.

It rose 1.7% on Thursday to hit a five-month high of $1.2311.

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