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Currencies: the dollar falls and the ruble falls to an all-time low

07/10/2022
Categories: Economy/Forex

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On Friday, October 7, 2022, the dollar fell slightly at the end of a volatile week while the ruble fell to its lowest level in over two weeks, above 61 against the dollar. Investors hope that the US employment data will shed light on the upcoming monetary policy of the US Federal Reserve (Fed).

The Dollar Index, which compares the greenback to a basket of other major currencies, fell by around 0.12% to 112.07 points, and was about the same as last weekend Dent at 112.12 points around 09:10 GMT (11:10 CET). The pound rose 0.20% to 1.1185 dollars and the euro 0.03% to 0.9794 dollars. The employment report for September will be scrutinized by investors in the United States, expected at 12:30 GMT.

In particular, the pound had reached an all-time low of $1.0350 against the greenback at the end of September in the wake of controversial, unquantified budget announcements. For analyst Matthew Ryan, although the currency has recovered, “the United Kingdom's medium-term outlook remains highly uncertain.”

The yen was dangerously approaching its lowest level since 1998, reaching 145.90 yen in late September, prompting the Japanese government to step in to support the currency. But it recovered 0.17% to 144.89 yen per dollar.

For its part, since September 21, the ruble was 0.8% lower against the dollar at 61.39, falling to its lowest point at 0734 GMT. It had lost 0.2% to exchange at 59.24 against the euro and lost 0.8% against the yuan at 8.62.

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