The dollar rose in the first trading sessions in the new year, moving away from its lowest level in six months, which it recently reached, against a basket of major currencies.
But this rally came after a recent decline as markets bet that the Federal Reserve would soon end monetary tightening while investor sentiment remained fragile. Trading in the first sessions of the year was limited with the continuation of the holiday in many countries, including major trading centers such as Britain and Japan.
The dollar index, which measures the performance of the US currency against a basket of major currencies, rose 0.16 percent to 103.65, far from its lowest level in six months, which it reached last week at 103.38.
The euro fell about a third of a percentage point to $1.0680, but not far from its highest since June.
The dollar fell slightly against the yen at 130.94, after hitting its lowest level since August last month. The monetary tightening policy adopted by the US Central Bank contributed to the rise of the dollar by 8 percent for the year 2022, the largest annual jump since 2015.
The main focus of the markets will now be on the movements of central banks, inflation and indications of the length and depth of the potential recession of the global economy.
In addition, the Central Bank of Syria raised the exchange rate of the Syrian pound against the dollar to 4,522 pounds for one US dollar.
According to the Syrian Arab News Agency “SANA”, the Central Bank of Syria set the exchange rate of the Syrian pound against the US dollar for operating banks, exchange companies and offices at 4,522 Syrian pounds for one dollar.
The bank also set, according to the issued foreign exchange rates bulletin, the exchange rate of the Syrian pound against the dollar for personal transfers received from abroad at 4,500 Syrian pounds for one dollar.