© Reuters. The dollar index continues to rise near the highest level of the last two decades
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It continued to rise during Monday’s trading, to keep gains near the highest levels of the past two decades, pending a series of Federal Reserve-led central bank meetings this week.
Market movements generally calmed down over the course of the day, with the London and Tokyo markets closing on official holidays and the absence of key economic data ahead of next Wednesday’s US Central Bank monetary policy decision.
However, the dollar has maintained its strong move against the other major currencies as investors anticipate the central bank’s direction to raise U.S. interest rates by at least 75 basis points after the latest inflation data, with the possibility of a full one percent increase.
With global stocks falling in 2022, Citigroup strategists said in a Bloomberg note dated September.
The dollar index – which measures the performance of the US currency against a basket of six major currencies – rose 0.25% to 109.91 points at 13:23 Cairo time after reaching 110.79 points. at the beginning of the session, the highest level in the last 20 years which last touched it on 7 September.
On the other hand, it fell 0.2% against the US currency to $ 0.9994 and the pound fell 0.3% against the dollar to $ 1.1384, while the Japanese were up 0.4% at 143.47 yen.
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