The US dollar rose to a 20-year high against major currencies on Thursday, driven by expectations of a tightening of monetary policy at the US Federal Reserve and after Russian President Vladimir Putin ordered the country’s first general mobilization since the second war. world.
Sharjah 24 – Reuters:
The dollar index, which measures the performance of the US currency against a basket of 6 major currencies, including the euro, pound and yen, rose to 111.79 for the first time since mid-2002, after the Russian president Vladimir Putin issued an order for the first general mobilization in the country since the Second World War.
The dollar rose to a 24-year high above 145 yen after the Bank of Japan maintained extremely low interest rates and accommodative monetary policy directives on Thursday.
The dollar also reached new highs against the New Zealand and Australian dollar and rose against the offshore Chinese yuan and the Korean won.
Fed expectations show that the interest rate will rise to 4.6% next year and will not cut interest until 2024, and will raise the interest rate by another 75 basis points to reach a range of 3.00 to 3.25%, as widely expected.
The dollar rose to 145.405 yen but swung sharply in the wake of the Bank of Japan announcement and was last trading up 0.31% to 144.53 yen.
The British pound fell to its 37-year low at $ 1.1221 and fell 0.26% to $ 1.1240 on its latest trade.
The euro fell to a 20-year low at $ 0.9807 before trading down 0.18% to $ 0.9820.
The Australian dollar fell 0.6% to $ 0.6593, after hitting $ 0.6583, the lowest since 2020.
–
