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Currency: The pound, the rand, the ruble and the yuan are stabilizing and the dollar is strengthening

13/10/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Most currencies stabilized on Friday, while the dollar remained firm after the US inflation report.

Ce vendredi, le rouble russe s' est stabilisé à près de 97.5 per dollar, maintaining the considerable gains made during the previous session. At 0750 GMT, the ruble was 0.1% weaker against the dollar at 97.51, after climbing more than 3% to a more than two-week high of 96.4550 in the previous session. The currency lost 0.1% to trade at 102.89 against the euro and lost 0.3% against the

yuan to 13.33.

Pour sa part, The South African rand was little changed in early trading on Friday, stabilizing after a volatile week. At 0630 GMT, the Rand traded at 19.0350 against the dollar, not far from its previous close of 19.0125. It weakened at the beginning of the week due to risk aversion related to the Israeli-Palestinian conflict, before appreciating sharply on Tuesday and Wednesday due to falling US Treasury yields and pessimistic comments from Federal Reserve officials

.

For its part, the pound rose slightly on Friday, after recording its biggest daily drop against the dollar since March the day before. Sterling rose 0.1% to $1.2178, after falling 1.1% on Thursday, as the dollar soared. The pound rose 0.1% to 86.40 pence, compared to

the euro.

The offshore Chinese yuan remained virtually stable against the greenback at $7,3061 after the data was released.

Par ailleurs, le dollar est resté Close on Friday after higher-than-expected US inflation has revived the outlook that the Re Federal Serve will have to keep rates higher for longer. The Australian dollar, which is often regarded as an indicator of Chinese growth, last stood at $0.6317

.

The euro rose nearly 0.2% to $1.0549 after falling last night against the dollar, while the pound traded at $1.2202, an increase of more than 0.2%.

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