The US dollar is strengthening today after declining over the past two trading days. The yen continues to hover near a four-decade low, while investors watch for signs of possible intervention by Japanese authorities to support the currency.
Don’t miss: Crypto scams – the most common tricks investors need to watch out for
Dollar index rises slightly
The dollar index, which expresses the value of the dollar against a basket of six major world currencies, showed an increase of 0.12 percent to 100.98 points around 18:00 CEST. The euro weakened against the dollar by 0.21 percent to 1.1426 dollars.
The dollar weakened against the yen by 0.1 percent to 161.911 yen. The yen thus continued to move not far from the four-decade low of 162.83 yen per dollar, which it reached last week.
Read more: eToro – Review of the well-known broker
Market remains within established ranges
According to analysts, the dollar barely reacted to reports of attacks on two tankers near the Strait of Hormuz. “The market is simply moving within well-established ranges,” said market strategist Marc Chandler from Bannockburn Capital Markets. “And I think neither the US nor Iran intends to prolong the conflict, and that’s what the market is placing its confidence in,” he added.
Member of the European Central Bank’s Governing Council and Governor of the Italian central bank Fabio Panetta said today that the outlook for the eurozone economy remains fragile. He also called for ECB monetary policy decisions to be examined based on a range of scenarios in light of significant changes in the global economy. The US Department of Commerce announced today that the US trade deficit increased by 42.2 percent to 77.6 billion dollars, or 1.65 trillion korunas. Economists surveyed by Reuters estimated the deficit at 78.5 billion dollars.
Check out: BITmarkets Review
Source: ČTK
