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Currency: slight rise in the dollar

08/01/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Ce début de semaine, le dollar a légèrement augmenté, Risk appetite remaining moderate ahead of a key report on US inflation more late in the week.

The rise in the greenback was supported by a rebound in US Treasury yields as traders tempered expectations about the pace and extent of Fed cuts this year. Against the yen, the dollar fell by 0.22% to 144.29, reducing some of its gains last week when it jumped 2.6% on the Japanese currency, its best weekly performance

since June 2022.

The yen suffered significant losses last week and struggled near the level of 145 per dollar, while the risk-sensitive Australian and New Zealand dollars fell slightly in a cautious start to the week.

Kiwi fell by 0.05% to $0.6239, after sliding 1.2% last week, while the US dollar index settled at 102.43.

Sterling lost 0.12% to trade at $1.27035, while the euro remained stable at $1.09405, after slipping 0.9% last week. Aussie fell 0.13% to $0.67055, extending last week's 1.5% drop

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