2024-01-15 19:29:35
London, January 15 (QNA) – The US dollar rose today, while the British pound fell ahead of the release of British economic data this week.
The dollar index rose 0.13 percent to 102.64, amid expectations that the Federal Reserve (the US central bank) will reduce interest rates starting next March, after data last Friday showed an unexpected decline in US producer prices last December.
The British pound fell 0.27 percent to 1.2717 against the dollar, but remained close to the highest level in two weeks that it reached last week.
The euro approached the $1.10 threshold, and fell 0.08 percent in the latest trading to $1.0941.
The yen remained under pressure, falling 0.63 percent to 145.83 against the dollar, approaching its lowest level since mid-December, amid expectations that the Bank of Japan will likely maintain its monetary easing policy at the monetary policy meeting next week.
The yuan fell to its lowest level in a month, after the Chinese central bank surprised the markets by keeping interest rates on medium-term loans unchanged, contradicting market expectations that it would lower interest rates to support the economy after the pandemic.
This led to the yuan falling to its lowest level in a month at 7.1813 against the dollar, before it compensated for some of those losses during trading, falling only 0.08 percent at 7.1744.
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