Exchange: fall in currencies, except the American dollar : Orishas-finance

Version Française

Exchange: fall in currencies, except the American dollar

08/01/2025

Source : ORISHAS FINANCE

Categories: Economy/Forex

imprimer

Exchange: fall in currencies, except the American dollar

Enjoy a simplified experience

Find all the economic and financial information on our Orishas Direct application to download on Play Store

This Wednesday, the US dollar followed higher returns thanks to solid American data. While the Australian dollar is falling and the yuan is at its lowest level in 16 months. The rupee is expected to open lower.

The dollar held steady at a high level on Wednesday and the yen fell close to the levels that prompted intervention last year after solid U.S. data boosted yields and reduced some bets on lower F&E rates. wheat.

The dollar followed suit and the contrast between the strength of the American economy and weak data in Australia and New Zealand caused antipode currencies to fall to lower multi-year levels.

The Australian dollar was under pressure again on Wednesday, as data showing a slowdown in core inflation kept alive the prospect of lower interest rates as early as February. The New Zealand dollar fell to $0.5629 after peaking at $0.5692. The support is now at $0.5632 and 0.5588. Both saw their fledgling recovery stifled by the rising US dollar after upbeat economic data took Treasury yields to new eight-month highs

For its part, the Chinese yuan fell on Wednesday to its lowest level in 16 months, under the pressure of a strong dollar and threats of tariffs from the new administration of US President-elect Donald Trump, despite stronger than expected central bank guidelines. According to Wang Tao, chief economist for China at UBS, “the yuan is expected to face depreciation pressure, not only because of tariff hikes, but also because of a significantly stronger dollar

.”

The yuan spot opened at 7.3250 per dollar and was last trading 31 pips lower than the previous session's close at 7.3315 at 02:26 GMT, the lowest level since September 2023. The offshore yuan traded at 7.345 yuan to the dollar, down by about 0.05% in

Asian trade.

The Indian rupee is expected to open lower on Wednesday after upbeat U.S. economic data sent U.S. bond yields higher, prompting the dollar to resume its upward trend.

The one-month undeliverable futures contract indicated that the rupee would open at 85.80-85.81 per US dollar, up from 85.7125 in the previous session.

Provided by AWS Translate