The dollar stabilized slightly, on Wednesday, but remained not far from the lowest level in two and a half months against a basket of currencies after the statement of the latest meeting of the US Federal Reserve did not indicate anything significant to rule out expectations that the interest rate hike cycle was over.
The US Central Bank meeting statement revealed that the bank will proceed “cautiously” and that “all parties have concluded that it is appropriate to maintain” the current status of interest rates.
The dollar index, which measures the performance of the US currency against a basket of currencies, rose 0.12 percent to 103.65, only slightly away from the lowest level in two and a half months at 103.17, which it reached yesterday, Tuesday.
The index fell by about three percent in November and is heading towards its worst monthly performance in a year.
In its most recent transactions, the euro recorded $1.0908 after rising to its highest level against the dollar since mid-August to 1.09655 yesterday, Tuesday.
The pound sterling settled at $1.2527, not far from the highest level in two months at $1.2558, which it touched in the evening.
The Japanese yen fell 0.16 percent to 148.65 against the dollar as European transactions neared the start, after reaching its highest level in two months at 147.155 against the dollar yesterday, Tuesday.
The yen rose 2 percent against the dollar in November, but is still down 12 percent since the beginning of the year.
2023-11-22 07:42:08
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