Dollar is falling against all currencies
2022.12.19 11:05
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Dollar is falling against all currencies
Budrigannews.com – In early European trade on Monday, there was a report that the Japanese government may be planning to change the inflation target. This led to the yen becoming more in demand, which caused the US dollar to fall.
The, which compares the dollar to a basket of six other currencies, fell 0.3% to 104.035 at 03:00 ET (8:00 GMT).
fell 0.6% to 135.84 following news over the weekend that Prime Minister Fumio Kishida was thinking about issuing a joint statement with the Bank of Japan, probably next year, which would allow for more flexibility around the 2% goal, was reported in the local Japanese press.
The central bank’s ultra-accommodative stance has remained near zero while other major central banks have aggressively raised rates to combat soaring inflation, which has hurt the yen. Such a move would likely mean a possible policy change.
It is widely anticipated that the will maintain interest rates at their current ultra-low levels when it holds its annual meeting early on Tuesday. However, we will keep a close eye on any comments regarding a possible shift in tone.
With inflation remaining extremely high, the, the, the, and the, among others, raised interest rates by 50 basis points last week and hinted at further increases.
ahead of the December report’s release, rose 0.5 percent to 1.0634.
Following last week’s data, which showed that the downturn in German economic activity moderated for a second consecutive month, this is anticipated to show a slight improvement to 87.4 from 86.3, indicating that a likely recession in the bloc will be shallower than previously thought.
After his ECB colleague Klaas Knot said on Friday that the central bank has a long way to go in raising interest rates than the Federal Reserve, but ultimately won’t raise rates to the same level as its counterpart in the United States, Luis de Guindos’s remarks during his speech in Madrid later on Monday will be studied.
climbed 0.5 percent to 1.2203, with sterling recovering from a one percent drop the previous week on concerns that the Bank of England may be nearing the end of its tightening cycle as the nation’s economy enters recession.
More Ruble fell despite growth of oil and weak dollar
As China tries to cope with a sharp rise in COVID infections, which could delay a full reopening of the country’s economy, the risk-sensitive rose 0.6% to 0.6722 and edged up 0.1% to 6.9814.
