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Currency: the dollar and the rand stable, the pound and the euro in losses

24/03/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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This Friday, currencies move in a dispersed order. While the dollar and the South African rand remained stable, the pound plunged perdait une partie de ses gains face au dollar jeudi et l' euro by 1%.

The Dollar Index fell 0.019% to 102.56, just above the seven-week low of 101.91 that it touched on Thursday. He recorded a slight gain yesterday, the first in six days. The Fed raised interest rates by 25 basis points, as expected on Wednesday. But due to the turmoil in the banking sector, it has taken a cautious position on the outlook.

For its part, the rand traded at 18.0825 against the dollar, close to its previous close of 18.0850 at 0620 GMT. Local investors will focus on the central bank's interest rate decision, expected next week, with markets expecting a rise of 25 basis points.

As for the pound, it lost part of its earnings against the dollar on Thursday, after the Bank of England decided to raise interest rates again to counter inflation. The British currency gained 0.26% at 1,2300 dollars and remained stable against the euro, at 88.48 pence per euro around 14:10 GMT (15:10 in Paris). The pound jumped immediately after the BoE's decision was announced, before running out of steam. It reached had reached its highest in nearly two months against the dollar, at $1.2344 per pound.

The euro plunged against the dollar and the yen today. The euro fell 1.01% to 1.0722 dollars and 1.69% to 139.35 yen, while on European stock exchanges, the share price of major banks fell.

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