The U.S. dollar is declining against the euro and the Japanese yen and is rising against the pound sterling in trading on Tuesday.
The ICE-calculated index, which shows the dollar’s movement against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), is up 0.17% in trading, while the broader WSJ Dollar Index is losing 0.05%.
The euro/dollar pair is trading at $1.0743 as of 7:34 a.m. Ksk on Tuesday, up from $1.0735 at the close of the previous session.
The U.S. currency pair with the yen dropped to 131.74 yen, compared to 131.89 yen in previous trading.
Pound to dollar exchange rate fell to $1.2173 against $1.2185 on Monday.
Investors are inclined to believe that the U.S. Federal Reserve (Fed) may be close to completing its tightening of monetary policy, despite hawkish statements from the regulator’s management.
Mary Daley, head of the Federal Reserve Bank (Fed) of San Francisco, said she believes the U.S. central bank will have to raise the rate above 5% to fight inflation.
Her colleague at the Atlanta Fed, Rafael Bostic, also confirmed his earlier opinion that the rate would be raised to more than 5%. Currently, its range is 4.25-4.5%.
Meanwhile, the easing of anti-coronaval restrictions in China is spurring demand for risky assets.
The Chinese yuan is up 0.1% at 6.7640 yuan/$1 from 6.7725 yuan/$1 the day before.
The ICE-calculated index showing the dollar’s dynamics against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) is up 0.17% in trading, while the broader WSJ Dollar Index is losing 0.05%.
The euro/dollar pair is trading at $1.0743 as of 7:34 a.m. Ksk on Tuesday, up from $1.0735 at the close of the previous session.
The U.S. currency pair with the yen dropped to 131.74 yen, compared to 131.89 yen in previous trading.
Pound to dollar exchange rate fell to $1.2173 against $1.2185 on Monday.
Investors are inclined to believe that the U.S. Federal Reserve (Fed) may be close to completing its tightening of monetary policy, despite hawkish statements from the regulator’s management.
Mary Daley, head of the Federal Reserve Bank (Fed) of San Francisco, said she believes the U.S. central bank will have to raise the rate above 5% to fight inflation.
Her colleague at the Atlanta Fed, Rafael Bostic, also confirmed his earlier opinion that the rate would be raised to more than 5%. Currently, its range is 4.25-4.5%.
Meanwhile, the easing of anti-coronaval restrictions in China is spurring demand for risky assets.
The Chinese yuan is up 0.1% at 6.7640 yuan/$1 from 6.7725 yuan/$1 the day before.
EURO, pound, U.S. dollar, yen
