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Foreign exchange market: the dollar and the yen down, the rupee up

23/02/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Cette fin de semaine, alors que le dollar américain est en passe d' enregistrer une baisse hebdomadaire et le yen enregistre une baisse, la Indian rupee will try to surpass an important level thanks to the influx of dollars.

P For the first time in 2024, the US dollar was on track to record a weekly decline. Investors took their breath back after the weakening of expectations about future Federal Reserve rate cuts sent the greenback

up.

For its part, the yen sank and headed for a fourth weekly decline. The yen is the worst-performing currency in the G10 this year, falling by 6.3% against the dollar. The greenback is the most efficient. This week, the yen is down 0.8% against the euro, reaching its lowest level in three months on Thursday at 163.45 per euro. The dollar gained 0.15% to trade at 150.75 yen

this week.

For its part, the Indian rupee will attempt to surpass a significant level thanks to the influx of dollars this Friday, as investors keep an eye on possible central bank intervention.

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