2023-06-02 09:00:33
dollar
The dollar is heading towards its biggest weekly loss since mid-January, Friday, with investors expecting that the US Federal Reserve will not raise interest this month, which undermines the appetite for the US currency among buyers of other currencies.
The US Senate’s approval of a bill to suspend the debt ceiling and avoid a catastrophic default removed one of the pillars of support for the safe-haven dollar.
Some officials in the US Central Bank hinted at the possibility of not raising interest rates in June.
According to the CME FedWatch Index, markets now expect, by 76.1 percent, that the Fed will hold interest rates at its next meeting.
price movements
The dollar index, which measures the performance of the US currency once morest a basket of six currencies, fell 0.8 percent this week, the largest weekly loss since mid-January, and recorded a 0.1 percent decrease in today’s trading.
The dollar rose once morest the yen, following incurring the longest daily series of losses once morest the Japanese currency since November, following four days of decline, recording today a 0.1 percent increase to 138.89 yen.
The euro settled at $1.0769 following reaching a one-week high of $1.07685 on Thursday.
The Australian dollar rose following an increase in the minimum wage boosted bets that the central bank would raise interest once more next week, rising today by 0.68 percent to $ 0.662, its strongest performance since May 24.
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