The dollar is near its lowest level in 16 weeks.. and strong gains for the yuan

the non-farm payrolls data bUnited Statewhich is due to be published on Friday, in search of indications of how raising interest rates will affect the labor market.

price movements

index fell dollarwhich measures the performance of the US currency against 6 other major currencies, among them yen And the euro, up 0.1 percent to 104.55, after earlier reaching its lowest level since June 29 at 104.36.

The index fell by more than 5 percent last month amid expectations that the US Federal Reserve, during its December meeting, will start slowing the pace of interest rate hikes.

Meanwhile, he climbed Chinese yuan By 0.4 percent against the dollar, to 7.0294.

The yuan is heading for its biggest weekly gain since China revalued the currency in 2005, according to Refinitiv data, supported by expectations that China will ease policy. "Zero covid"In addition to anticipating the US Federal Reserve’s slowdown in the rate hike.

The dollar fell 1 percent to 133.98 yen, its lowest level since August 16.

testified euro It changed slightly and reached $1.0527, after rising 1.1 percent on Thursday.

retreat Sterling pound by 0.1 percent, to $1.2260.

It rose by 1.7 percent on Thursday, reaching a five-month high of $1.2311.

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Investors’ focus is currently heading to the non-farm payrolls data bUnited Statewhich is due to be published on Friday, in search of indications of how raising interest rates will affect the labor market.

price movements

index fell dollarwhich measures the performance of the US currency against 6 other major currencies, among them yen And the euro, up 0.1 percent to 104.55, after earlier reaching its lowest level since June 29 at 104.36.

The index fell by more than 5 percent last month amid expectations that the US Federal Reserve, during its December meeting, will start slowing the pace of interest rate hikes.

Meanwhile, he climbed Chinese yuan By 0.4 percent against the dollar, to 7.0294.

The yuan is heading for the largest weekly gain since China revalued the currency in 2005, according to Refinitiv data, supported by expectations that China will ease the “zero Covid” policy, as well as anticipation of the US Federal Reserve slowing down the pace of interest rate hikes.

The dollar fell 1 percent to 133.98 yen, its lowest level since August 16.

testified euro It changed slightly and reached $1.0527, after rising 1.1 percent on Thursday.

retreat Sterling pound by 0.1 percent, to $1.2260.

It rose by 1.7 percent on Thursday, reaching a five-month high of $1.2311.

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