US Dollar Rises to 4-Month High Against Major Currencies

Tuesday – The US dollar rose to its highest level in four months against major currencies today.

The dollar index, which measures the currency’s performance against a basket of six major currencies, increased by 0.16% to 105.59, approaching its highest level of 105.70 reached yesterday, which was the strongest since July 3rd.

The euro fell to its lowest level in around seven months, dropping to $1.0629 overnight for the first time since April 22, and was last traded at $1.0642.

The British pound also declined by 0.23% to $1.2841, ahead of employment data that could provide clues about the pace of interest rate cuts by the Bank of England.

The Chinese yuan touched its weakest level since early August at 7.2505 per dollar in offshore trading, before easing to 7.2469 in latest dealings.

The Australian dollar fell 0.33% to 0.6552. Meanwhile, the Japanese yen rose around 0.1% to 153.48 per dollar, after hitting a three-month low of 154.715 against the dollar last week.

About محمد الفاسي