LONDON (Archyde.com) – The dollar index rose to 100 points for the first time in nearly two years on Friday, boosted by prospects of an acceleration in US interest rates. The dollar rose once morest a basket of rival currencies over the past month, especially once morest the euro, which came under pressure due to investor concerns regarding the economic costs of the ongoing war in Ukraine and the presidential election in France, which is witnessing a heated competition. The dollar index climbed to a high of 100 points in early European trading hours. , which is its best performance since May 2020. It later lost some momentum and settled in the latest trading at 99.876. The index rose 1.4 percent this week in its largest increase in a month, supported by statements tending to tighten monetary policy from many policy makers at the Federal Reserve (the US central bank) who are calling for a faster pace of raising interest rates to curb inflation. The euro fell to a new one-month low of $1.0848. It was last down 0.2% at $1.0865. Thursday’s European Central Bank meeting minutes indicated that policy makers are keen to combat inflation, but the euro zone has so far taken a more cautious stance than other central banks, which has weakened the euro. The dollar extended its gains once morest the Japanese yen, recording 124.23, the highest level in more than a week, close to its best performance in seven years at 125.1 recorded last month. The yen has stabilized this month following falling in March, but remains under pressure as the US raises interest rates and the Bank of Japan intervenes in the bond market to keep rates low. The British pound fell once morest the US currency, falling 0.2 percent in the latest trading, recording $1.30475. In the cryptocurrency markets, bitcoin rose one percent to regarding 43,890 dollars.
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The euro stabilized on Wednesday 04/06 following falling to its lowest level in a month once morest the rising dollar, with increasing pressures on the European currency due to the expectation of imposing new Western sanctions on Russia and the upcoming French presidential elections.
The euro rose 0.06 percent to 1.09130 once morest the dollar by 1145 GMT, following touching its lowest level in nearly a month at $ 1.08735.
The dollar index, which measures the performance of the US currency once morest a basket of six major currencies, fell to 99,500, following touching the highest level since May 2020 at 99.759.
The pound sterling once morest the dollar settled at 1.30770 dollars, following hitting a three-week low once morest the dollar.
As for digital currencies, Bitcoin fell 1.3 percent to $44,899.
LONDON (Archyde.com) – The euro extended its decline on Tuesday, with the Swiss franc and the Swedish krona the biggest winners, following concerns regarding French elections and the prospect of further sanctions on Russia unnerved investors. French financial markets acknowledged the possibility of right-wing candidate Marine Le Pen beating President Emmanuel Macron in this month’s elections, as it incurred heavy losses in the Paris index of blue-chip stocks and government bonds. The single currency fell once morest the US dollar briefly to its lowest level in more than one week at $1.0956. The euro hit a one-month high of $1.1185 just days ago amid growing optimism regarding an end to the conflict in Ukraine. The euro’s biggest losses were once morest the Swedish crown and the Swiss franc on Tuesday, as it fell by 0.4 percent and 0.2 percent, respectively. The United States and European countries vowed on Monday to punish Moscow for the killings of civilians in northern Ukraine. The Kremlin denied the accusations of killing civilians. The new sanctions may include restrictions on the energy that Europe imports from Russia with billions of dollars. The Australian dollar jumped to a nine-month high following the country’s central bank signaled an interest rate hike was imminent. The Australian dollar rose 1.23 percent to $0.7639, its strongest level since June 14. The dollar index fell 0.07 percent to 98.902 from its highest level in one week at 99.083, which it reached last night. The dollar was flat once morest the Japanese yen at 122.73 yen, broadly following moves in long-term US Treasury yields, with continuing to consolidate around 122.5 following pulling back from a multi-year high of 125.105 on March 28.
the president of Russia, Vladimir Putinstated today that it will suspend gas supply contracts if “unfriendly” countries do not pay for fuel in rubles and do not open an account in the Russian national currency at Gazprombank.
“Today I signed a decree that establishes the rules for the trade of Russian natural gas with the so-called unfriendly countries” and that it will take effect on April 1, the Russian leader said shortly before a meeting with the aviation industry.
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“We offer these countries a clear and transparent mechanism: to buy natural gas from Russia, must open ruble accounts in Russian banks. Payments for gas supplied will be made from these accounts starting tomorrow“, said Putin.
In the decree, the Russian president specifies that the authorized bank for this is Gazprombank, one of the few financial entities in Russia that has not been sanctioned by the European Union (EU) because it processes, together with Sberbank, a large part of the energy operations with the block.
The Russian president stated that Russia will not do “charitable works” when it comes to supplying gas to Europe and other countries.
“If such payments are not made, we will consider this as a default by the buyers with all the resulting consequences,” warned.
“Nobody sells us anything for free And we won’t do charity work either. That means that existing contracts (in case of non-payment of gas in rubles) will be suspended”, he stressed.
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Putin pointed out that Russia supplied “European consumers with our resources, in this case gas, they received it, they paid us in euros, which they then froze.”
“In this sense, there is reason to believe that we supply part of the gas to Europe practically for free”, he stressed, and said that it cannot continue like this.
However, the decree grants the Foreign Investment Control Commission the authority to grant “permits to foreign buyers to meet their obligations to Russian suppliers for natural gas supplies without having to comply with the established procedure” on the matter. payment in rubles.
The Russian Government adopted on the 8th a list of unfriendly countries and territorieswhich includes the United States, Canada, all EU member countries, the United Kingdom, Ukraine, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, Japan, South Korea South, Australia, Micronesia, New Zealand, Singapore and Taiwan.
The price of TTF natural gas for delivery in May on the Dutch market rose to 127.37 euros per MWh during the speech of Putin.
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