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Foreign exchange market: currencies in downgraded order

22/01/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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This Wednesday, the American dollar fell while the Australian and New Zealand dollars were shaken up by discussions on customs tariffs. The yuan is falling and the rupee is rising.

The dollar fell slightly on Wednesday in indecisive trading, with the lack of clarity on President Donald Trump's tariff plans leaving financial markets in uncertainty. The dollar index, which tracks the currency against the euro, yen and four other main rivals, was down 0.14% at 108 at 00:54

GMT.

The euro fell by 0.07% to $1.0420, while the yen rose slightly to $155.40 per dollar.

Australian and New Zealand dollars were rocked again on Wednesday by uncertainty over US customs policy, while New Zealand bonds rebounded, as a benign reading of inflation left the door wide open for further rate cuts in this country. The consumer price index rose by 0.5% in the December quarter, leaving the annual pace at 2.2% and well within the Reserve Bank of New Zealand's target range of 1% to 3%. The New Zealand dollar fell by 0.3% to $0.5663 but remained above its recent low of $0.5542. The resistance is around $0.5693

.

The Indian rupee is likely to rise slightly at the open on Wednesday, following a rise among most of its Asian peers, after which it should face demand for US dollars from importers and speculators. The 1-month undeliverable futures contract indicated that the rupee would open at 86.50-86.52 per dollar, up from its close at 86.5775 in the previous session. The rupee managed to rise above 86.30 at the opening of trade on Tuesday, helped by Asian signals, before falling

.

The Chinese yuan fell against the US dollar on Wednesday after President Donald Trump hinted at potential new tariffs on Chinese imports. The Chinese yuan hit its highest level in over two weeks thanks to positive discussions between the United States and China and better economic data. The offshore yuan traded at 7.2819 yuan to the dollar, down by about 0.17% in Asian

trade.
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