Friday, March 1, 2024

Dollar and yen fall sharply after US stocks hit record highs


The dollar and yen reached the bottom of their limits in limited trade on Thursday as investors preferred currencies other than stocks to fall overnight.
Despite the spread of the mutated “Omigron” strain of the corona virus, these moves seemed to be related to the recent improvement in morale, as many governments opposed the imposition of new, large-scale closures.
Reuters data show that global infections with Kovit-19 have reached record levels in the last seven days.
The euro touched $ 1.1352 in early Asian trade after hitting a one-month high of 0.35 percent during the previous session.
The pound reached 1.3500, its highest level since November 19, after rising 0.44 percent overnight.
It hit a one-month low of 95.862 against the dollar index, which measures the performance of the US currency against major currencies.
Currency movements in the wider market conformed to it. With risk appetite, the S&P 500 and the Dow Jones Industrial Average closed at all-time highs on Wednesday, and the Dow rose for the sixth consecutive session.
The yen, a safe haven, touched 114.95 against the dollar after hitting a one-month low of 115.03 on Wednesday.
The Australian dollar hit $ 0.7254 after capturing its latest gains.
Bitcoin fell for the third consecutive session. And recorded about $ 46,200 in recent trades. (Reuters)

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Rolf Colon
Rolf Colon
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