The US dollar continues to trade at its highest levels during the current year, the most expensive level of 92 with the beginning of the European trading period, after the index that measures the performance of the dollar against a basket of currencies (the dollar index) recorded gains last week by about 1.08% at the close at 91.95 levels after testing levels 92.20, after Friday’s US labor market data, and is now trading at 92.01 levels. The rise in yields on US bonds supported the rise of the US dollar to its highest levels, as US ten-year bond yields recorded their highest levels since February of last year after they tested 1.62 levels last week and are now trading at 1.60 levels at the start of the European period. The US labor market data that appeared at the end of last week and issued by the US Bureau of Labor Statistics also constituted a factor supporting the gains of the US dollar, as the US labor market added 379,000 jobs in February, to come better than market expectations that did not exceed 150,000 jobs, while unemployment rates fell to 6.2 per cent. A hundred. On the other hand, the US dollar has ignored, since the beginning of the week, the US Senate agreement on the stimulus package of 1.9 trillion dollars that was approved over the weekend. The dollar against the Japanese yen is declining for the fourth consecutive session against the US dollar, and is trading at its lowest level since June of last year at 108.50 levels.
07/11/2024
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