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Foreign exchange market: downgraded currency order

28/02/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Le dollar américain se raffermit, tandis que les dollars australiens and New Zealanders were in retreat. The South African rand, yuan, and rupee are down.

The dollar found safe haven support on Friday ahead of U.S. President Donald Trump's impending tariffs, but was still heading for a monthly loss, with investors evaluating these threats against the darkening outlook for American growth. The dollar briefly surpassed the 7.30 level against the yuan on the offshore market, and was at 7.2966. The dollar index came in at 107.24, after jumping nearly 0.9 percent on Thursday. However, it is on track to record a monthly loss of 1.1%, its worst drop since August, as the dollar continues to experience some downward pressure due to concerns about the health of the world's largest economy

.

Australian and New Zealand dollars were down on Friday as the specter of impending US tariffs and a potential global trade war hit currencies exposed to exports, erasing a month of gains in just a few sessions.

The New Zealand dollar was down to $0.5625, after also losing 2.0% for the week so far.

The South African rand weakened early on Friday as markets awaited a series of local economic data releases and a key reading of US inflation expected later in the day.

At 07:27 GMT, the rand traded at 18.52 against the dollar, about 0.3% less than its previous close.

The Chinese yuan fell to its lowest level in two weeks against the dollar on Friday, driven down by signs of escalating trade tensions between the world's two largest economies after US President Donald Trump proposed additional tariffs on products. Chinese. The onshore yuan weakened to a low of 7.2914 per dollar in morning trading, the weakest level since Feb. 13, before trading at 7.2870 at 03:15 GMT. Its offshore counterpart weakened beyond the psychologically important level of 7.3 to the dollar before changing hands at 7.2938

.

The Indian rupee is expected to open lower on Friday, after the dollar index jumped following US President Donald Trump's latest comments on tariffs. The 1-month undeliverable futures contract indicated that the rupee would open at 87.30-87.32 per US dollar, up from its previous close at 87.20. The rupee had fallen to nearly 87.40 on Thursday before the Reserve Bank of India stepped in to stop the

decline.
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