The US dollar is getting cheaper against the euro and the pound sterling at the auctions on Monday, it is stable against the yen.
The ICE-calculated index, which shows the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona), is losing 0.29%, the broader WSJ Dollar Index – 0.27%.
The euro/dollar is trading at $0.9750 compared to $0.9722 at the market close on Friday.
The rate of the American currency against the yen is 148.72 yen against 148.75 yen following the results of the previous session.
The pound rose to $1.1272 from $1.1183. On Friday, British Prime Minister Liz Truss fired Chancellor of the Exchequer Quasi Kwarteng, appointing Jeremy Hunt to the post.
According to the Financial Times, several British Conservative MPs and prominent figures from the City of London are calling for Truss herself to step down as prime minister after controversial economic decisions that undermined her credibility.
Britain’s new finance minister told the BBC last Sunday, speaking of the possibility of winding down any of the government’s recent stimulus measures, that “nothing is out of the question.”
Later on Monday, Hunt intends to make a statement regarding the country’s medium-term budget.
The dollar rose against the yuan during trading to 7.1996 yuan from 7.1910 yuan at market close on Friday. Chinese President Xi Jinping, speaking at the 20th Congress of the Chinese Communist Party (CCP), which opened on Sunday, signaled that the country’s authorities would continue their tough policy to contain the spread of COVID-19, which has already seriously weakened the country’s economy this year.
