The general index of the US dollar, which measures the performance of the dollar against a basket of currencies (Dollar Index), recorded increases for the fourth consecutive session in the middle of the trading session today, Wednesday, September 29 (September), to trade at its highest level since the first of November of last year at levels of 93.79, at an increase By about 0.10% since the start of the session, after testing 93.86 levels before the opening of the European markets.
The US dollar received support from the continuous rise in US bond yields in recent sessions, and its rise by more than 5% yesterday, Tuesday, and trading at its highest level in three months. The testimony of US Federal President Jerome Powell before Congress and the statements of the members of the US Federal Reserve (Pollard – Brainard – Evans – Williams) since the beginning of the week support the start of the US Federal Reserve to announce the reduction of its purchases of bonds at its meeting in November.
With any statement that comes better than expectations, the most important of which is the employment and labor market data for September, which will be released on Friday. During today’s session, the markets are awaiting the virtual forum of the European Central Bank, in which the heads of the four major central banks in the world (Federal – European – English – Japanese) will meet to discuss a number of issues, most notably the inflation problem.
The British pound against the US dollar was one of the most affected by the US dollar’s gains, to record a new low for the first time since the beginning of last January, when it traded at 1.3512 levels, with a loss of more than 200 points since the beginning of the week.
The Japanese yen, after testing levels of 111.71, its lowest level against the US dollar since March of last year, records some gains and is trading at 111.35 levels before the opening of the US markets after falling for five consecutive sessions.
06/11/2024
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