© Reuters.
Investing.com – The US dollar witnessed a strong rise towards its highest levels this year, contrary to expectations that it might decline a few days ago.
The spot dollar index recorded an increase of 0.2% on Thursday, and closed at its highest levels for the year, which were also achieved at the beginning of this October.
Read also:
Achieving this rise came after the index breached a technical level that was considered a potential signal for further declines.
At the same time, prospects remain open for further rise in the dollar, as the recent increase came as a result of the decline in government bond markets, as weak demand at bond auctions led to increased concern about the presence of large amounts of debt.
On the other hand, major currencies were negatively affected as a result, as the yen crossed the 150 yen per dollar barrier, and the Australian dollar fell to its lowest levels during the year.
Read also:
Hedge funds are betting on the dollar’s continued rise in the future, as they have consolidated their bullish positions against the US currency for five consecutive weeks, according to data from the Commodity Futures Trading Commission.
In a note issued by Win Thein, global head of currency strategy at Brothers Harriman & Co, he indicated that the dollar was not affected by any negative factors in a fundamental way, adding: “We do not see an end to the dollar’s upward trend at the present time.” .
Meanwhile, the US dollar index stabilizes at 106.4 points during these moments of Friday’s trading, as the core personal consumption expenditures price index data scheduled for today is awaited, which is expected to move the markets.
Read also:
2023-10-27 09:46:00
#dollars #upward #trend #stop. #open #record #jumps #Investing.com
