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Foreign exchange market: Evolution of major currencies this Friday

19/04/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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At the end of this week, currencies such as the pound, rupee, and yuan fell, while the dollar rose for a weekly gain.

The greenback's 0.17% gain for the week was somewhat limited by a slight slowdown in its rally since Thursday, following a rare trilateral warning from finance chiefs in the United States, Japan and South Korea on falling currencies of these two latest. The greenback rose 0.05% to 106.22, approaching a more than five month high of 106.51

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Par ailleurs, la livre Sterling was little changed on Friday after falling to its lowest level in five months against the dollar during trading hours in Asia, while investors were reacting to reports of an Israeli attack on Iran.

Sterling is down slightly for the week but down 1.5% for the month so far after a rise in the dollar caused by solid US economic data.

De son côté, la Indian rupee is expected to open at its lowest level against the US dollar on Friday, in the wake of a rise in oil prices and a risk aversion following an article in the media according to which Israeli missiles hit Iran.

Undeliverable futures indicate that the rupee will open between 83.62 and 83.64 per dollar, compared to its previous close of 83.5375.

For its part, the yuan hit its lowest level in 5 months due to renewed tensions in the Middle East. The onshore yuan opened at 7.2391 per dollar and fell to a low of 7.2431, its lowest level since November 17, 2023. At noon, it was changing hands at 7.2426, 44 pips lower than the previous late session's close

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