On Monday 26 June, the South African rand and the pound sterling strengthened. Similarly, the dollar reached its highest level in 15 months against the Russian ruble following an abortive mutiny

The dollar has remained stable against a basket of global currencies. Against the ruble, it reached its highest level in 15 months. The dollar index has also found some support as a safe haven because of ongoing concerns that prolonged cycles of monetary tightening by major central banks will further damage the global economic outlook

The Russian ruble fell against the dollar. It was 0.2% lower at 84.88 at 0843 GMT, after reaching 87.23 in trade earlier, its weakest point since the end of March 2022

The euro fell by 0.1% against the dollar, to $1.0890, after a survey showed that German business morale deteriorated for the second consecutive month in June, indicating that Europe's largest economy is facing an uphill battle to get out of the recession.

The U.S. dollar index rose slightly to 102.8, after gaining more than 0.5% last week, the first in nearly a month.

The South African rand was slightly stronger in early trading on Monday, with investors watching for the potential effects of the failed weekend mutiny in Russia. At 703 GMT, the rand traded at 18.7250 against the dollar, about 0.2% stronger than

The pound strengthened slightly against the dollar and the euro on Monday, as traders questioned the implications of the Bank of England's interest rate hike, which was very significant the previous week. The pound rose 0.15% against the dollar to $1.2735, regaining some of its 0.83% loss from the previous week, the currency's biggest weekly decline since

It also strengthened against the euro, which was down 0.13% to 85.54 pence, while weak data on the business climate in Germany weighed on the common European currency. The pound also reached its highest level in seven and a half years against the Japanese yen under pressure, reaching 182.98 yen before pulling back after Japan's top currency diplomat warned against the yen's recent

The Turkish lira weakened to a record level after the central bank took steps to simplify its macroprudential framework, after sharply raising rates last week.

The yen rose on Monday, although it remained close to its lowest level in seven months, after an official said that Japan was not ruling out options to respond appropriately to excessive currency movements.

The yen rose 0.33% to 143.23 per dollar at 1210 GMT, after Japan's top currency diplomat, Deputy Finance Minister for International Affairs Masato Kanda, intensified warnings against the recent weakening of the yen, which was “rapid and unilateral.”

The onshore yuan fell 0.65% to a seven-month low of 7,2199 per dollar, following its offshore counterpart, which weakened above 7.2 per dollar last week.

The offshore yuan fell 0.1% to 7.2214 per dollar, after touching its lowest level since the end of November.