Home Business The dollar is falling as risk appetite improves after the US central...

The dollar is falling as risk appetite improves after the US central bank minutes

The dollar fell on Thursday as investors flocked to risky assets following expectations of a slowdown in the Federal Reserve’s rate hike.

Upcoming minutes of the US central bank’s Monetary Policy Committee meeting, held Nov. 1-2, revealed officials are very confident they can now take baby steps toward rate hikes. of interest.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.14% to 105.75, after falling 1% in evening.

The US central bank raised its key interest rate by 0.75 percentage point this month for the fourth consecutive time in a bid to curb rising inflation.

But weaker-than-expected US consumer price data fueled hopes for a more moderate pace of rate hikes. As a result, the dollar index fell by 5.1% in November, going for the worst performance monthly for the last 12 years.

The Japanese yen was one of the top-performing major currencies performance against the dollar, rising by 0.5% to 138.88.

The euro rose 0.39% to 1.0435 dollars, while the British pound rose 0.43% to 1.2090 dollars in recent trading. Sterling jumped 1.4% in the evening after preliminary data on UK economic activity beat expectations, although still showing contraction.

The Australian dollar was up 0.25% to $0.675, while the New Zealand dollar was up 0.17% to $0.6255.

The US markets are closed today, Thursday, due to the Thanksgiving holiday.

Read More About: Business News

NO COMMENTS

Exit mobile version