Home NewsForex Market News (New York) DXY weekly closed in red, the pound fell below the 1.14 mark for the first time in 37 years | Anue Juheng

(New York) DXY weekly closed in red, the pound fell below the 1.14 mark for the first time in 37 years | Anue Juheng

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(New York) DXY weekly closed in red, the pound fell below the 1.14 mark for the first time in 37 years | Anue Juheng


The U.S. dollar index edged lower on Friday (16th), but still closed in the red for the week, as investors expected the Federal Reserve (Fed) to maintain a positive interest rate hike attitude next week; after the offshore yuan, the onshore yuan also depreciated Breaks the 7 mark; GBP hits another 37-year low on the 30th anniversary of Black Wednesday.

The U.S. dollar stood above the 110 mark again in intraday trading, maintaining a slight gain after economic data showed that U.S. consumer confidence improved modestly in September, but turned dark in late trading.

The ICE U.S. Dollar Index (DXY), which tracks the greenback against six major currencies, was down 0.09% at 109.64 in late New York trading, up 0.6% for the week and up about 15% so far this year.

Derek Halpenny, head of global market research at MUFG, said: “Given that the Federal Reserve is likely to raise rates by another 175 basis points by year-end, we expect the overall financial environment to remain asset-negative, a clear sign that the dollar will be the main beneficiary. By.”

Next, traders turn their attention to next week’s super central bank week, with the U.S., Japanese and British central banks to hold decision-making meetings one after another, with the Federal Reserve taking the lead.

Federal funds rate futures show that the probability of the Fed raising interest rates by 3 yards next week is 75%, and the probability of raising interest rates by 4 yards is 25%. As the interest rate gap between the United States and Japan continues to widen, the already hard-hit Japanese yen may usher in Another heavy blow,

The yen rose 0.4% to 142.91 against the dollar on Friday, but was still in the black for a fifth straight week. As investors flock to the dollar, the yuan joins major currencies such as the yen as the latest to hit multi-year lows.

The offshore RMB against the U.S. dollar once depreciated to RMB 7.04 on Friday, hitting a new 2-year low, and then reversed the downward trend, rising slightly by 0.11% to RMB 7 by the time of writing; the onshore RMB against the U.S. dollar also broke through an important psychological barrier, with the lowest intraday depreciation At 7.0250 yuan, it rose 0.2% to 6.9804 yuan before the deadline.

Economic data showed that China’s economy unexpectedly showed signs of recovery, with industrial added value and total retail sales growth both higher than expected in August, but the sluggish housing market still weighed on the economic outlook.

“Economic growth and the U.S.-China policy divergence are likely to continue to support USD/CNH in the months ahead, even with intermittent corrections in between,” said analysts at Maybank.

GBP/USD fell below $1.14 intraday, the first time since 1985, and Friday coincided with the 30th anniversary of Black Wednesday in 1992, when George Soros, known as the “financial crocodile”, successfully attacked the pound. With the British government unable to maintain the exchange rate floor, the pound was forced to withdraw from the European Exchange Rate Mechanism.

The Canadian dollar continued its recent decline, depreciating another 0.27% against the US dollar to 1.3262 Canadian dollars, hitting a new low in nearly two years. The Canadian dollar has lost 1.9% this week, its biggest weekly drop since August 2021.

The Australian dollar fell to a new low since the outbreak of the epidemic, and then recovered slightly, up 0.3% to US$0.6718; the euro turned black against the US dollar during the session, rising 0.18% to US$1.0013 by the time of writing.

As of Saturday (17th) Taiwan time about 6:00 Price:

The dollar index was at 109.6697. -0.0590% The euro against the US dollar (EUR/USD) was quoted at 1 EUR = 1.0015 USD. +0.2001% GBP/USD (GBP/USD) was quoted at $1.1419. -0.3925% The Australian dollar against the US dollar (AUD/USD) was quoted at 1 Australian dollar to 0.6718. +0.2986% The U.S. dollar against the Canadian dollar (USD/CAD) was trading at 1.3262 Canadian dollars. +0.2722% The US dollar against the Japanese yen (USD/JPY) was quoted at 142.91 yen per dollar. -0.3902%

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