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Current American dollar rate declines against the euro and the pound



current american dollar rate

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%.

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


China stock market closed in the red amid protests in China



China stock market

The Chinese stock market chart closed in the red, recording its worst session in a month, as recent measures to ease monetary policy could not offset investor concerns about protests against tight covenant restrictions in the world’s second-largest economy.

China once again recorded record numbers of coronavirus infections on Monday following protests across the country against strict covid restrictions.

Amid concerns, investor sentiment on China’s stock market couldn’t be much affected by the People’s Bank of China, which said on Friday it will lower requirements on the amount of funds banks must hold as reserves for the second time this year, freeing up about 500 billion yuan ($69.8 billion) of long-term liquidity to support the slowing economy.

In turn, consumer and tourism-related stocks rose, as some investors bet that the recent COVID-19 outbreaks and social unrest could push China to end its “zero tolerance” COVID-19 policy earlier.

Earlier we reported that the gold price was showing moderate gains in reaction to the US Federal Reserve meeting minutes.

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Gold price today shows moderate growth, reacting to U.S. Federal Reserve meeting minutes



forex gold price

Gold prices today are rising, trading data show. Markets are processing the minutes of the November meeting of the U.S. Federal Reserve (Fed).

Forex gold price on the New York Comex rose $8.35, or 0.48%, to $1,753.95 a troy ounce. December silver futures rose 0.44% to $21.46 an ounce.

Investors pay attention to the minutes of the Federal Reserve meeting published this week. The document indicated that the regulator considers it expedient to slow down the rate of interest rate increases soon. According to the CME Group, 71.1% of analysts forecast a new 50 basis point hike in December after a 75-point increase in November.

The monetary policy easing is having a negative impact on the dollar. The dollar index (the exchange rate against a basket of currencies of six U.S. trading partners) is down nearly 1% for the week. The cheaper the U.S. currency, the more expensive gold becomes as it becomes more available for purchase in other currencies. The yellow metal has been showing a rise of about 1% since Monday.

Earlier we reported that the U.S. dollar is stable against the euro and yen and rising against the pound.

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The US dollar rate is stable against the euro and the yen and goes up against the pound



us dollar rate

In today’s trading the US dollar rate is stable against the euro and the yen and is strengthening against the pound. A day earlier, the dollar weakened against the world’s major currencies following the release of the Federal Reserve’s (Fed) November meeting minutes, which showed that the overwhelming majority of U.S. central bankers see the need to slow down the pace of rate hikes soon.

The ICE index that shows the dollar’s movement against six currencies (euro, Swiss franc, yen, Canadian dollar, pound and Swedish krona) lost 0.17% on Friday, while the broader WSJ Dollar Index was stable.

Current dollar rate

The euro/dollar pair was trading at $1.0411, up from $1.0410 at the close of the previous session. The dollar was trading at 138.61 yen against the Japanese yen at the same time, compared to 138.54 yen the previous day. The pound exchange rate fell to $1.2103, compared to $1.2113. Yesterday the dollar was 0.2% cheaper against the euro, 0.7% cheaper against the yen, and 0.5% cheaper against the pound.

“Some of the Fed leaders observed that monetary policy had reached a state in which it was sufficiently restrictive to meet FOMC goals and it would be appropriate to slow rate hikes. The vast majority of meeting participants felt that slowing the pace of the hike would probably be appropriate in the near term,” noted the minutes of the Nov. 1-2 Fed meeting.

Some of the U.S. central bank leaders, meanwhile, believed that the Fed would have to raise the rate higher than previously planned to meet its goal of easing inflation.

They indicated that the rate “would have to reach a somewhat higher level than previously expected,” given the lack of enough signals of easing in U.S. inflation at the moment, as well as the continuing imbalance of supply and demand in the economy.

Earlier we reported that Italian Enel plans to sell assets for 21 billion euros to reduce debt.

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