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Foreign exchange market: currencies down except the euro

04/04/2025
Categories: Economy/Forex

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On the foreign exchange market, the euro has risen to a level not reached since September 30 at the end of the week. Other currencies, for the most part, are on a downward trend, such as the fragile dollar as traders assess the impact of tariffs ahead of the US employment report

.

The dollar held steady after bouncing off six-month lows against the Euro and British Pound overnight. The dollar was already on the defensive this year after initial euphoria over Trump's policy agenda turned into fears that his focus on trade barriers could lead to stagflation or even a recession in the United

States.

The dollar index, a measure of the currency against a basket of six major peers, fell 1.9% on Thursday, its worst day since November 2022. The greenback fell slightly by 0.15% to 145.89 yen at 00:57 GMT, after alternating between small gains and losses at the start of trading on Friday

.

The euro rose by 0.08% to 1.1060 dollars, after reaching 1.147 dollars on Thursday, a level not reached since September 30.

Sterling held steady at $1.3103, after reaching $1.3207 the day before, the first time it hit that level since October 3.

Elsewhere on the exchange markets, risk-sensitive Australian and New Zealand dollars remained weak, with Aussie falling by 0.12% to $0.6321 and the kiwi by 0.09% to $0.5789.

The New Zealand dollar lost 1.2% to $0.5721, after briefly reaching $0.5852 overnight. The majority of sales involved the Japanese yen, a safe haven, with the Aussie falling by 2% to its lowest level in 20 months, at 90.81

yen.

As the mood deteriorated, the Aussie saw strong sales and fell 1.3% to $0.6243.

At 9:10 GMT, the ruble was stable at 84.20 against one dollar on the over-the-counter market. The Russian currency has risen by around 25% against the dollar this year, mainly due to expectations of an easing of geopolitical tensions

.

At 08:40 GMT, the rand was trading at 19.1225 against the dollar, down about 2% from Thursday's closing level and the lowest level since mid-January. The South African currency fell by more than 3% against the dollar this week, with bigger losses against currencies like the euro and the pound sterling.

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