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Currencies: the dollar falls, the rupee is about to gain, and the Kenyan shilling stable

25/11/2024
Categories: Economy/Forex

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At the start of the week, currencies move in scattered order. While the US dollar falls with the avec les rendements des bons du Trésor après le choix de Bessent, la Indian rupee could register slight gains on Monday and the Kenyan shilling is stable

.

The dollar gave up some of its recent gains on Monday as investors believed the choice of the US Treasury Secretary would reassure the bond market and pull yields down, reducing the dollar's interest rate advantage. Right. The index was down 0.5% to 106.950, after reaching a two-year high of 108.090 on Friday. The dollar fell by 0.4% against the Japanese yen to 154.18, further away from its recent high of

156.76.

The euro rose by 0.7% to 1.0496 dollars, moving away from the two-year low reached on Friday of 1.0332 dollars. The resistance is at $1.0555 and $1.0610, and the support is at $1.0195 and the major level of $1.0000

.

The pound thus hit its lowest level in six weeks on Friday, at 1.2484 dollars. At the start of the day on Monday, sterling rebounded by 0.4% to $1.2591, but it remained well below last week's high of

$1.2714.

The Indian rupee could register slight gains on Monday, helped by a weaker US dollar and portfolio inflows due to the rebalancing of MSCI global equity indices. The one-month undeliverable futures contract indicates that the rupee will open at 84.38-84.39 against the US dollar compared to 84.4450 in the previous session. The rupee hit an all-time low of 84.5075 on Friday, under pressure from probable dollar outflows and the continued strength of the greenback, but avoided bigger losses thanks to the intervention of the Reserve Bank of

India.

The Kenyan shilling held steady against the dollar on Monday, according to data from the London Stock Exchange Group. At 0714 GMT, the shilling was trading at 129.00/130.00 per dollar, similar to Friday's closing

rate.
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