While the euro and the pound sterling received support today, Friday, as central banks in Europe continued their tendency toward monetary tightening.
In a week full of central bank decisions, the picture has become clearer for traders regarding the possible date for reducing interest rates after the President of… Federal Reserve Board Jerome Powell At Wednesday's meeting, he said it was likely that monetary policy tightening would end, and that discussion of a cut was “under consideration.”
This resulted in a decline in the US currency against other major currencies, as the dollar index recorded 102.01, not far from the lowest level in four months at 101.76 that it touched yesterday, Thursday.
The index fell approximately 2 percent and is on track to record the largest weekly decline since July.
And he scored euro $1.0985, which is slightly below the $1.1009 level that it touched yesterday and was the highest level in two weeks.
The European currency rose 2 percent this week, the largest rise since July.
And he scored Sterling pound In the latest transactions, it was $1.2766, after it rose 1.1 percent and reached the highest level in four months at $1.2793 yesterday, in light of the Bank of England’s tendency to tighten.
Meanwhile, the Japanese yen rose 0.11 percent to 141.70 per dollar, after rising 0.7 percent and touching its highest level in four and a half months at 140.95 yesterday.
The Asian currency rose 2 percent this week, and is on track to achieve gains for the fifth consecutive week against the dollar.
The last similar series of gains was witnessed during the pandemic period in mid-2020.
