The dollar stabilized, supported by declining expectations for a significant cut in US interest rates in the coming months and increasing bets on the possibility of Donald Trump winning the presidential elections and returning to the White House.
Price movements
The dollar index stabilized in the latest trading at 104 points after reaching its highest level in three months at 104.57 points earlier in the week, and is heading for gains for the fourth week, with an increase of half a percent this week.
This will be the longest streak of weekly rises for the dollar since February.
Japanese voters will vote on Sunday in a general election, with opinion polls showing that the ruling Liberal Democratic Party may lose its long-standing dominance.
The state of political instability may have implications for the path of raising interest rates by the Bank of Japan from their levels near zero. The Central Bank meets on October 30 and 31.
The yen recovered some of its early losses and settled at 151.705 to the dollar.
He did not testify Yen A notable move after better-than-expected inflation data in Tokyo released earlier today, Friday, as core consumer prices rose less than the target. Bank of Japan reached two percent for the first time in five months.
The yen has fallen about 5.3 percent in a month so far, and is about to record its worst monthly decline since April 2022.
The euro also settled at $1.08285, moving away from the lowest level in more than three months, which was recorded earlier this week.
Data issued yesterday, Thursday, showed that business activity in… Eurozone It faltered again this month, although the contraction in Germany – Europe’s largest economy – was less severe than the previous month.
And rose sterling 0.1 percent to $1.299, but it also moved away from the lowest level in two months at $1.2908 recorded on Wednesday. The pound is heading for a weekly decline of 0.5 percent.
The Australian and New Zealand dollars fell by about 0.2 percent each.