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Currency: The Dollar eased slightly

26/08/2022
Categories: Economy/Forex

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The dollar weakens a bit ahead of Jackson Hole and after Chinese measures to boost the economy drove investors away from safe-haven assets and on the eve of a crucial speech by the Federal Reserve (Fed) chairman.

Around 19:00 GMT, the dollar index, which compares the greenback with a basket of major currencies, slipped 0.17% to 108.49 points. It remained stable against the euro, which gained 0.1% to 0.9968 dollars per euro.

For its part, the pound also declined with the surge in energy prices in the UK. The pound lost 0.33% to 1.1792 dollars, while regulated energy rates will increase by 80% from October in the UK. On the other hand, the euro-pound pair is not changing much: the euro is gaining 0.6% against the pound since the beginning of the year.

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