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Find all the economic and financial information on our Orishas Direct application to download on Play StoreOn Monday, the Australian and New Zealand dollars rose against the yen, while the Dirham appreciated against the euro. The British pound is on track for its biggest monthly drop, and the Chinese yuan is weak. The rupee is stable and the yen is stable chute .
The currencies of Australia and New Zealand appreciated against the yen on Monday as the ruling coalition in Japan lost its parliamentary majority, a result that should slow the tightening of monetary policy in that country. The Australian dollar rose 0.8% to 101.36 yen, just below its three-month high of 101.69 yen. The New Zealand dollar also rose 0.7 percent to 91.71 yen, although it remains stuck in its recent range of 90 and 92 yen. Australia and the New Zealand dollar are in trouble and are expected to experience a fourth consecutive week of losses.
Against the US dollar, the Aussie fell 0.1% on Monday to $0.6596, its lowest level since mid-August.The Dirham appreciated by 0.47% against the euro and depreciated by 0.54% against the dollar during the period from 17 to 23 October 2024, according to
Bank Al-Maghrib ( BAM).Sterling is on track for its biggest monthly drop since September 2023 against the dollar, while remaining roughly unchanged against the euro, as markets focus on the monetary easing trajectories of the major banks power plants. Sterling was up 0.1% against the US dollar at $1.2970 and on track to fall by around 3% monthly, the largest since September 2023. The pound lost 0.05% to 83.33 pence per euro and is expected to end the month down
0.1%.The Chinese yuan weakened on Monday to its lowest level in more than two months against the dollar, supported by signs of strength in the American economy and by growing bets on a possible victory for Donald Trump for a second presidential term. The Chinese currency, which lost around 1.6% against the dollar in October, seems poised to end three consecutive months of appreciation, weighed down by geopolitical uncertainty and threats of higher tariffs on Chinese products in the event of Trump's victory. The onshore yuan was trading down 0.13% to 7.1316 per dollar at 03:00 GMT, after reaching a low of 7.1355, the lowest level since 23 August
.The Indian rupee is expected to open largely unchanged on Monday, supported by expectations of further intervention by the country's central bank to cancel out the impact of a stronger dollar and higher U.S. Treasury yields.
The 1-month undeliverable futures contract indicated that the rupee would open almost flat compared to 84.08 in the previous session, hovering near an all-time high of 84.0825.The yen fell to its lowest level in three months on Monday as investors believed that the loss of the parliamentary majority of Japan's ruling coalition in this weekend's elections would slow future rate hikes, while the dollar headed for a monthly gain thanks to rising US yields.
During the Asian session, the yen fell by 1% to 153.84 per dollar and by a similar margin against the euro to 165.87, the lowest level since the end of July.
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