The current American dollar rate is getting cheaper against the euro and the pound sterling and is stable against the yen. According to the Financial Times, several British Conservative MPs and prominent figures from the City of London are calling on Truss herself to resign as prime minister after controversial economic decisions undermined her credibility.

Britain’s new finance minister told the BBC in an interview last Sunday, referring to the possibility of rolling back any of the government’s recent stimulus measures, that “nothing is out of the question.” Later Monday, Hunt is set to state regarding the country’s medium-term budget.

The U.S. dollar rate against the yuan rose 0.08% to 7.1982 yuan versus 7.1925 yuan at market close on Friday. Chinese President Xi Jinping, who spoke at the 20th Congress of the Communist Party of China (CPC), which opened on Sunday, signaled that the authorities would continue their tough policy to curb the spread of COVID-19, which has already seriously weakened the country’s economy this year.

The euro rose 0.28% to $0.9749 against the dollar, compared with $0.9722 at market close on Friday.

The exchange rate of American currency to yen grew by 0.04% to 148.73 yen against 148.69 yen at the end of the previous session.

The pound grew by 0.98% to $1.1282 from $1.1172. On Friday, British Prime Minister Liz Truss dismissed Finance Minister Kwasi Kwarteng, appointing Jeremy Hunt to the post.

The ICE-calculated index showing the dollar’s dynamics against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krone) lost 0.29%, while the broader WSJ Dollar Index lost 0.27%.

The Fed is taking active measures to prevent the inflation of the dollar. Because of these economic measures, the stock market is seriously affected. Against this backdrop, Meta joins other tech companies such as Snap, which are laying off employees due to worsening economic conditions. We are also seeing how badly Facebook meta stock prices are falling. While many of these companies thrived during the coronavirus pandemic, some of the tech giants have reported in recent weeks on the impact of the global economic turmoil. Last week, Ilon Musk, the new owner of Twitter, laid off about half of the company’s 7,500 employees, saying the social network was losing $4 million a day.

Earlier we reported that almost all U.S. and European CEOs are preparing for an economic slowdown.