The dollar rises after statements that suggest that monetary policy is continuing
The dollar rose in early trading in London today, Friday, in light of the evaluation of statements issued by Federal Reserve officials, which indicate the continued monetary policy strictness, after the US inflation data this week inspired that the federal may calm down the pace of raising interest rates.
American inflation data came less than expected, which led to the support of high -risk assets, such as stocks, and also led to the decline in the dollar, as the markets interpreted the data as an indicator that will push the Federal Reserve to calm militancy in monetary policy, but federal officials have made it clear that they will continue to tighten .
The head of the Federal Reserve in San Francisco, Mary Dali, said on Thursday that she is open to the possibility of raising interest by 75 other basis points in September, to combat very high inflation.
By 07:44 GMT, the dollar index increased by 0.2 percent during the day to 105.28 points, after incurring losses over a period of four days, which made it heading to record a weekly decline by 1.2 percent.
The Japanese yen fell against the strength of the dollar, as the American currency increased by 0.3 percent against the yen to 133.345.
Paul Mackeel, the global director of currency exchange research at HSBC, said in a memorandum of customers that he believes that the federal needs more evidence of the slowdown in the basic inflation in order to calm down from his tightening of monetary policy.
The pound fell 0.3 percent to $ 1.2175, after not being affected by data that revealed the decrease in GDP in Britain with less than what was expected in June.
The euro decreased by 0.2 percent to $ 1.0295.
The data showed that inflation in France increased by 6.8 percent year on a year in July, while the inflation in Spain was 10.8 percent, which is the highest since 1984.
The euro was affected by the troubles facing Europe due to the Ukraine crisis, the search for alternative energy sources, and the German economy was affected by the scarcity of rain.
In a new problem, a decrease in the Rhine water level, the commercial artery of Germany, has disrupted shipping and raising its costs to more than five, such as.
The New Zealand dollar rose due to the expectations of the New Zealand Central to raise the interest rate next week.
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