London (awp / dpa) – The dollar continued its slide on Tuesday and conceded up to 1% against the British currency and 0.7% against the European currency, investors turning away from the greenback amid the gloomy economic outlook in the United States- United.
Around 2:50 p.m. GMT (4:50 p.m. in Paris), the pound was worth $ 1.3232, shortly after hitting $ 1.3241, an increase of more than 1%.
The euro was trading at $ 1.1936, shortly after hitting $ 1.1966, a high since May 2018.
The rather sudden jump of the pound and the euro at the beginning of the American session, “is partly technical,” explained Fawad Razaqzada, analyst at ThinkMarkets to AFP, citing a movement “which is part of the trend on the downside weighing on the dollar. “
The dollar index, which measures the performance of the greenback against a basket of currencies, has lost around 5% since the start of July, and more than double since its annual high reached on March 20.
It is evolving at its lowest level for more than two years.
“Investors expect the US Federal Reserve (whose last meeting report will be released later this week) to maintain its extremely accommodative policy for a long time to come because the persistence of Covid-19 could continue to weigh on the economic recovery “in the United States, added Mr. Razaqzada.
“There are also signs that the recovery of the world’s largest economy has already slowed,” he continued, citing the manufacturing activity index for the New York region.
This indicator published on Monday certainly rose in July, but much less quickly than the pace of June and than expected, enough to encourage even more traders to shed their greenbacks.
For Avtar Sandu, analyst at Phillip Futures, “the concern over the postponement of discussions on the trade agreement between the United States and China”, initially scheduled last Saturday, adds to the downward pressure on the dollar.
The two parties were to take stock of the trade agreement signed in January and no date has been given for a new meeting.
Cours de mardi Cours de lundi
14H50 GMT 21H00 GMT
EUR/USD 1,1936 1,1870
EUR/JPY 125,82 125,83
EUR/CHF 1,0776 1,0762
EUR/GBP 0,9018 0,9059
USD/JPY 105,41 106,00
USD/CHF 0,9029 0,9066
GBP/USD 1,3232 1,3103
afp / rp
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