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.
