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Foreign exchange market: the dollar down, the pound sterling stable

01/09/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Currencies move in scattered order at the end of the week. The dollar is about to suffer a weekly loss ahead of a crucial US employment report. While the pound sterling remained stable.

Ahead of a crucial monthly report on American jobs that is likely to inform Federal Reserve policy in the coming months, the dollar was poised to break a six-week streak of gains against major peers on Friday. It slipped 0.08% to 145,405 yen on Friday, bringing its weekly loss to 0.7%. However, the dollar regained ground against the euro overnight. The single currency was little changed at $1.08455 after a fall of 0.74% on Thursday which reduced its weekly increase

to 0.49%.

Pour sa part, la livre sterling est remained stable on Friday, with data showing that previous interest rate hikes are starting to weigh on real estate and manufacturing, but official figures show that the economy has improved behaved than we thought in the face of the COVID-19 pandemic. Sterling held steady against the dollar at $1.2674 at 10:26 GMT, within its recent 1-month trading range of $1.2548 to $1.28175. It changed little against the euro, with the single currency buying 85.58

pence.
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