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The Dollar is experiencing heavy losses against major currencies


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The Dollar is experiencing heavy losses against major currencies

Post by rocky on Fri 26 Jan 2018, 3:05 am

The Dollar is experiencing heavy losses against major currencies
January 26 2018 11:28 p

[rtl][rtl] bank sales of the dollar rose today[/rtl]
Baghdad Post

The US dollar has suffered severe and violent losses in recent hours, and may lead to greater losses and continued bleeding against major currencies.

According to a Reuters report, "The wave of violent losses started days ago, and the dollar did not withstand a large number of currencies headed by the sterling and the yen, especially with the continuation of gold leaps, which continues to rise to record levels may push it to the highest level since 2013 when prices collapsed , And at the same time the continued rise of Brent crude, which plunged $ 71 during Thursday's trading, may lead to further losses of the dollar. "

"US currency losses have increased because of dramatic statements by US officials, most notably US Treasury Secretary Stephen Menuchin at the Davos Economic Forum in Switzerland, when he said the dollar's decline reflected the US trade balance in the short term, To reduce the dollar in the coming days. "

He added that "statements by US officials indicated in the expectations of the possibility of reducing the dollar against major global currencies, which prompted a large segment of investors to get rid of the dollar, at the same time a large number of investors preferred to go to safe havens, especially gold, whose prices jumped significantly during the days Past ".

He pointed out that "the severity of the losses of the dollar rose in the currency market, after statements by officials prompting the president to intervene quickly to announce in an interview with the station," CNBC "that" statements by the US Treasury misunderstood and interpreted. "

The global markets witnessed large-scale selling of the US currency following the US Secretary of State's remarks, prompting the European Central Bank to call for a meeting on Thursday evening, with the euro rising more than 3% since the beginning of this year, Of currencies 0.1%, which creates a great mystery about the near future of the US currency.

The euro rose to its highest level since October 2014 on Thursday and surpassed the $ 1.25 barrier. 


    Current date/time is Fri 18 Jan 2019, 9:57 am