Exchange: currencies are in degraded order : Orishas-finance

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Exchange: currencies are in degraded order

24/03/2025

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Exchange: currencies are in degraded order

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Le dollar americain baisse ce lundi tandis que les dollars australien et néo-zélandais stagnent après une semaine de difficultés. Le rand sud-africain se renforce, la route reste stable et le yuan reached its lowest level in two weeks. The pound sterling is strengthening

The dollar drifted just below a three-week high versus its main peers on Monday as traders cautiously awaited clarification on the next round of tariffs from U.S. President Donald Trump.

The US dollar index, which measures currency against a basket of six counterparts, was stable at 104.03 at 00:49 GMT, after touching 104.22 on Friday for the first time since March 7.

Australian and New Zealand dollars traded sideways on Monday after a week of difficulties amid uncertainty over new US tariffs, while traders awaited the Australian budget and monthly inflation data for more clarity on rates. The New Zealand dollar lost 0.1% to $0.5725, marking the fifth consecutive session of decline. It fell by 0.3% last week, with resistance at the 2025 high at $0.5830 and support at $0.5720

The South African rand strengthened on Monday as investors awaited clarification on the next round of tariffs from US President Donald Trump.

At 07:38 GMT, the rand traded at 18.17 to the dollar, about 0.3% higher than its previous close.

Sterling climbed on Monday ahead of British Finance Minister Rachel Reeves' spring budget update later this week and as data earlier in the day showed that business activity in the UK's huge service sector was increasing. is accelerated this month. The pound rose by 0.45% to $1.2973. It also rose against the euro, with the European currency falling by 0.16% to 83.625 pence

per pound.

Due to growing investor concerns about trade disputes between the world's two largest economies, as US President Donald Trump's reciprocal tariff deadline approaches, the Chinese yuan hit its lowest level in two weeks on Monday against dollar.

The onshore yuan hit its lowest level in two weeks at 7.2615 per dollar before reducing some losses to trade at 7.2590 at 03:04 GMT, when its offshore counterpart was trading at 7.2630.

The Indian rupee, after last week's rally, may not react much to Monday's opening to the downside of the Chinese yuan and other Asian currencies.

The 1-month undeliverable futures contract indicated that the rupee would open little change against the US dollar compared to 85.9725 in the previous session.

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