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and fell dollar index, which measures the value of the green currency against a basket of six competing currencies, 0.376 percent to 108.58 at 1930 GMT. Earlier, the index touched 109.27, its strongest level since hitting a two-decade peak in mid-July.
Dealers are now calculating a 47.5 percent chance that the US central bank will raise interest rates by 50 basis points in September and a 52.5 percent chance of a 75 basis point increase.
But that may change when President Jerome Powell speaks Federal Reserve On Friday in Jackson Hole, central bankers from around the world will gather for the Federal Reserve’s annual economic symposium.
The euro rose 0.19% against the US currency to $0.99625, recovering from a two-decade low of $0.99005, which it plunged to earlier in the session on renewed fears that the energy shock will continue to fuel inflation, which makes it more likely that Europe will slip into recession. .
And the European currency is down about 12 percent from its level at the beginning of the year and lost about 3 percent in August.
On the other hand, the Chinese yuan fell to its lowest level in two years, while touching… Sterling pound Its weakest level since March 2020.
The sterling recovered some of its losses after the PMI data in the United States, and rose 0.49 percent against the green currency to 1.1825 dollars, after it had plunged earlier in the day to 1.1718 dollars.
The Chinese yuan fell to a nearly two-year low of 6.853 per dollar.
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and fell dollar index, which measures the value of the green currency against a basket of six competing currencies, 0.376 percent to 108.58 at 1930 GMT. Earlier, the index touched 109.27, its strongest level since hitting a two-decade peak in mid-July.
Dealers are now calculating a 47.5 percent chance that the US central bank will raise interest rates by 50 basis points in September and a 52.5 percent chance of a 75 basis point increase.
But that may change when President Jerome Powell speaks Federal Reserve On Friday in Jackson Hole, central bankers from around the world will gather for the Federal Reserve’s annual economic symposium.
The euro rose 0.19% against the US currency to $0.99625, recovering from a two-decade low of $0.99005, which it plunged to earlier in the session on renewed fears that the energy shock will continue to fuel inflation, which makes it more likely that Europe will slip into recession. .
And the European currency is down about 12 percent from its level at the beginning of the year and lost about 3 percent in August.
On the other hand, the Chinese yuan fell to its lowest level in two years, while touching… Sterling pound Its weakest level since March 2020.
The sterling recovered some of its losses after the PMI data in the United States, and rose 0.49 percent against the green currency to 1.1825 dollars, after it had plunged earlier in the day to 1.1718 dollars.
The Chinese yuan fell to a nearly two-year low of 6.853 per dollar.