Thursday, October 3, 2024
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Strong US economic data hits the yen and soars the dollar

Strong US economic data hits the yen and soars the dollar

And it is exposed Yen Under strong selling pressure, on Wednesday, after the new Japanese Prime Minister said that the country is not ready for further raising interest rates, after his meeting with the Governor of the Central Bank.

And he settled down euro Close to the lowest level in three weeks, which was recorded in the previous session, after European Central Bank official Isabel Schnabel, who usually leans toward hawkishness, adopted an accommodative tone, which strengthened bets on cutting interest rates this month.

The US currency, which is considered a safe haven, saw additional demand yesterday, Wednesday, after Iran launched about 180 ballistic missiles at Israel, which sparked threats of retaliation and exacerbated fears of the outbreak of a wide-scale war.

And rose Dollar index Which measures currency against euro The yen and four other major currencies reached 101.70 by 0023 GMT, the highest level in three weeks, according to Reuters data.

Yesterday, Wednesday, data showed that the number of private sector jobs in the United States rose by about 143,000 jobs last month, which exceeded expectations.

The dollar rose 0.09 percent to 146.575 yen, after earlier reaching 146.885 for the first time since September 3.

The euro witnessed a slight change at $1.10455, a level not far from the $1.10325 level recorded yesterday, Wednesday, which was the lowest since September 12.

And he settled down Pound Sterling At $1.3261. The Australian dollar also settled at $0.6884.

Currencies sensitive to risks were subjected to selling pressure yesterday, Wednesday, in an initial and rapid reaction to the Iranian attack, but the lack of indications so far of an Israeli response gave traders an opportunity to catch a breath.



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