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Currency: The dollar falls, the pound sterling and the yen rise

03/05/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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Currencies move in scattered order at the end of the week. e dollar chute, While style="font-family: "Bookman Old Style”, "serif"> the pound sterling is rising and the

yen is heading for a strong weekly increase.

The dollar fell on Friday after American employers added fewer jobs than expected in April, while wage inflation was slightly lower than expected. The dollar index was down 0.71% to 104.55, its lowest level since April 10, and the euro gained 0.76% to $1.0807. The greenback weakened by 1.09% to 151.95 Japanese yen, the weakest since April 10

.

In addition, the yen was heading for its biggest weekly gain in 17 months on Friday, helped by the alleged intervention of Japan this week to push the currency away from its lowest levels in 34 years, while the dollar index fell to a three-week low before employment data in the United States. The yen hit its highest level in three weeks, at 152.75 to the dollar, during Asian trade and is expected to record a weekly gain of 3.2%, the largest since the beginning of December 2022. It was recently up 0.3% to 153.20 per dollar

.

The pound rose on Friday against a weakened dollar, in preparation for American employment figures expected later in the day, while local elections in Britain did not disrupt the currency.

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