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Exchange: currencies in decline, except the American dollar

13/01/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Le dollar américain a commencé cette semaine par une note forte, tandis que les dollars Australians and New Zealanders are stagnating near their lowest levels in several years. The Indian rupee is expected to weaken beyond 86/USD due to the Fed's aggressive outlook and the Chinese yuan is hovering near its lowest level in

16 months.

The US dollar continues to rise. It was firm at 109.67 against a basket of currencies, hovering near its highest level since November 2022. Against the dollar, the yen fell by 0.12% to 157.92. According to Nick Rees, Head of Macroeconomic Research at Monex Europe, “This latest data series highlights the fact that American economic exceptionalism remains a key market theme to

start 2025.”

After a solid U.S. employment report led markets to consider only one rate cut this year, and local bonds extended a global sell-off, Australian and New Zealand dollars stagnated on Monday near their lowest levels in several years. Eacute; es. The New Zealand dollar rose 0.1% to $0.5561, after falling 0.8% overnight to $0.5542, the lowest level in over two years. New Zealand yields increased by 5 bps to 4.725%

.

The Indian rupee is on the verge of falling against the U.S. dollar at the opening on Monday, dropping below the 86 level, after a U.S. jobs report increased the likelihood that the Federal Reserve won't cut rates anytime soon. The 1-month undeliverable futures contract indicated that the rupee would open at 86.10-86.12, an all-time low, against the US dollar against 85.9650 in the previous session

.

The yuan hovered near its lowest level in 16 months against the dollar on Monday, despite new currency support measures and while the greenback remained buoyant after solid US employment data. The yuan is under new depreciation pressures, affected by a combination of an overall stronger dollar, lower Chinese bond yields, and escalating trade tensions with the United States and other economies. At 03:59 GMT, the onshore yuan was up 0.01% at 7.3318 per dollar, but was 5 pips away from touching the weakest end of the daily trading band set by fixing the midpoint. And it was not far from a 16-month low of 7.3328 hit on Friday

.
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