The dollar weakened against both the yen and the Swiss franc. Investors reacted to end optimism around China

The U.S. dollar hit a one-week low against the Japanese yen in Thursday’s trading. To it, it lost more than one percent, closing at 133.065 yen for one dollar.

Concerns about measures in China

That said, the dollar rose to its weakest level against the Japanese yen in a week. It can be said that, to some extent, the US currency has fallen prey to the wither optimism associated with the unraveling of anti-covid measures in China. Indeed, it turned out that the Chinese economy is most likely to face similar difficulties as if the authorities continued the zero-covid strategy. And if China’s economy keeps slowing, it will undoubtedly be reflected negatively on the American one as well.

A loss even against the franc or the euro

But the dollar also weakened against the Swiss franc, trading about half a percent weaker at 0.923 franc per dollar. The US currency is thus weakest against the Swiss one since the end of this March. There, too, was the effect of seeking a safe harbor to the disadvantage of the dollar. The dollar was also losing relative to the euro, up 0.3 percent. Thus, at least $1.064 had to be paid for the euro on Thursday.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Billy Markus Net Worth: Why the Dogecoin Founder Didn’t Get Rich

When people think of Dogecoin, they often picture one...

Forbes: CE Industries Owner Strnad to Invest Part of His Companies into Investment Fund

Jaroslav Strnad, owner of CE Industries and Helicopter Alliance...

Coinomi Review: Is This Crypto Wallet Safe or Falling Behind?

Coinomi is one of the longest-running cryptocurrency wallets on...

crypto4me: regulated crypto service brings easy cryptocurrency purchasing within European license

crypto4me – The European cryptocurrency market has undergone significant...

What Is Volatility and Why It Drives Returns

Volatility is one of the most frequently discussed concepts...
spot_img

spot_imgspot_img