The euro’s rise was short-lived, falling below parity with the dollar again

The euro’s rise was short-lived, falling below parity with the dollar again
The euro’s rise was short-lived, falling below parity with the dollar again

The US dollar strengthened against the euro, yen and pound sterling in Thursday morning trading.

Statistics released earlier this week showed that US inflation was easing more slowly than experts had expected. This strengthened investors’ belief that the Federal Reserve will raise interest rates by 75 basis points at its meeting on September 20-21. Some experts even think it is possible for the US central bank to raise interest rates by 100 basis points at once. That probability is estimated by the market at 37%, according to Trading Economics.

“The upside for the euro remained short and limited as the Fed remained hawkish and this is unlikely to change given that US inflation beat expectations in August,” Unicredit said in a survey cited by Dow Jones.

The yen is getting cheaper. The Nikkei newspaper reported on Wednesday, citing its sources, that Japan’s central bank is assessing the state of the foreign exchange market, which is usually considered the last step before deciding to intervene. Since the beginning of this year, the yen has fallen 24% against the dollar.

As of 10:05 a.m. Bulgarian time, the common European currency fell by 0.21% compared to the American one – to 0.9961 dollars per euro compared to 0.9981 dollars per euro at the close of the previous session. Yesterday, the euro rose by 0.14% against the dollar.

The British pound sterling was at the same time down 0.20% to $1.1521 per pound from $1.1539 per pound a day earlier. The lira gained 0.4% against the dollar on Wednesday.

In relation to the Japanese currency, the American currency rose by 0.63% – to 143.75 yen per dollar compared to 143.08 yen per dollar in the previous trading session. On Thursday, the yen jumped nearly 1 percent on expectations that the Bank of Japan would take action to support the weakening national currency.

The ICE index, which tracks the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona), added 0.17% today, and the broader WSJ Dollar Index added 0.19%.


The article is in bulgaria

Tags: euros rise shortlived falling parity dollar

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