Friday, May 24, 2024

The dollar is falling amid the possibility that the US Federal Reserve will hold off on raising interest rates



June 1, 2023

11:50 am

The dollar fell from its highest level in two months on Thursday as investors cut expectations that the Federal Reserve will raise interest rates this month, but the House of Representatives voted to approve a debt ceiling freeze. lent some support to the greenback.
A divided U.S. House of Representatives on Wednesday passed a bill to suspend the $31.4 trillion debt ceiling, and attention has focused on how the Democratic-led Senate handles the bill, which the federal government is expected to run out of funds to meet. its duties.
The dollar was little changed immediately after the development, but gained in Asian trade to offset some losses earlier in the session.
The euro was down 0.07 percent at $1.0681 against the dollar, while the pound sterling was down 0.01 percent at $1.24395.
The dollar index rose 0.13 percent to 104.28, but fell from its highest level in more than two months, reached in the previous session, as dealers cut their expectations that the U.S. Federal Reserve will announce another hike in interest rates this month. The Japanese yen fell nearly 0.2 percent to 139.59 against the dollar.
And the Chinese yuan hit 7.1184 against the dollar in recent foreign trade, off a six-month low hit in the previous session, as a survey of private sector activity showed Chinese factory activity on Thursday. After a decline in April, there was an unexpected turn to growth in May.
The Australian dollar was supported by the Chinese factory activity report, and rose 0.11 percent to $0.6511 in recent trade. The New Zealand dollar was down 0.18 percent at $0.6010. (Reuters)

See also  "MasterCard": Boubian's fastest growing global elite wallet in the Middle East

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:


More like this

Cost-effective drilling: how to reduce operational expenses by smart equipment choices

Drilling costs affect the profitability and sustainability of oil...

Navigating the World of Cryptocurrencies: How to Choose the Best Crypto Wallet

In the digital age where cryptocurrencies are rapidly gaining...

Unlock the easiest way to get EU citizenship of Slovenia and Romania with Union Permits

Due to the nature of their immigration programs, Slovenia...

The Ultimate Guide to Men’s Facials in Dubai

In the bustling city of Dubai, where the sun...