2023-07-05 22:30:00
The US dollar rose once morest a basket of currencies
The dollar rose once morest other major currencies, on Wednesday, following the minutes of the US Federal Reserve’s June monetary policy meeting reinforced expectations of raising interest rates once more by the end of July.
Almost all US central bank officials agreed last month to keep interest rates stable and many predicted that policy makers would eventually have to tighten monetary policy further, an expectation that boosted US Treasury yields and the dollar’s earlier gains.
Jeffrey Roach, chief economist at LBL Financial, said the US central bank is likely to raise interest rates in July.
He added that the jobs report, which will be issued on Friday, will be analyzed to track the impact of any weakness in the labor market.
price movements
The dollar index, which measures the performance of the currency once morest a basket of six other major currencies, including the euro and the yen, rose 0.26 percent to record 103.330.
The euro fell 0.21 percent to $1.0854.
The dollar rose once morest the yen to reach regarding 144.48 yen, but it is still below the threshold of 145 yen that required the intervention of the Japanese authorities last fall.
Last week, the dollar briefly jumped to 145.07 yen for the first time since November.
The exchange rate of the dollar once morest the yen moved to a large extent in parallel with the movement of the US Treasury’s benchmark bond yields for ten years, which rose to 3.9375 percent following the release of the US Central Bank’s meeting minutes.
The Australian dollar fell 0.5 percent to $ 0.6658, to continue the decline for the fifth day.
The yuan recovered, rising 0.37 percent, to $7.2611.
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