Business news from Ukraine

Dollar is moderately declining against euro and yen

6 October , 2022  

The US dollar is moderately declining against major world currencies on Thursday morning, investors evaluate the statements of the Federal Reserve Board and statistical data.

The ICE-calculated index, which shows the dynamics of the US dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona), is down 0.2%, the broader WSJ Dollar is down 0.25%.

The euro/dollar pair is trading at $0.9920 by 9:08 Moscow time compared to $0.9885 at the close of the session on Wednesday, the euro adds about 0.35%.

The exchange rate of the American currency against the yen is reduced by 0.1% and amounts to 144.53 yen compared to 144.69 yen the day before.

The pound rose 0.1% to $1.1335 compared to $1.1327 at the close of the previous session.

The day before, the head of the Federal Reserve Bank of Atlanta, Rafael Bostic, said that he supports raising the key interest rate in the US by another 125 basis points by the end of the year, to 4.5%.

Meanwhile, San Francisco Fed colleague Mary Daly told CNN that the central bank should raise borrowing costs even higher and keep them high until inflation starts approaching 2%.

It became known yesterday that the index of business activity in the US services sector (ISM Non-Manufacturing) in September decreased to 56.7 points compared to 56.9 points a month earlier, data from the Institute of Supply Management (ISM) showed. Analysts, on average, assumed a more significant drop, to 56 points, according to Trading Economics.

Now all the attention of market participants is directed to data on the US labor market, which will be published on Friday. Experts believe that the unemployment rate in the country in September remained at the August mark of 3.7%, and the number of new jobs increased by 315 thousand people.

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