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[size=36]The dollar rises to the highest level in a year[/size]
Economie| 01:53 - 07/21/2021
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Follow-up - Mawazine News
, the dollar rose, on Wednesday, to the cusp of its highest levels in a year, as fears of high rates of virus infection boosted gains that were built on the basis of expectations of high interest rates.
The euro touched its lowest level since April on Tuesday, at $1.1772 in Asia, not much higher than this year's low of $1.1704.
It may find support if the European Central Bank fails to meet expectations of a peaceful adjustment to its interest rate guidance at its meeting scheduled for Thursday, but if that is delivered, it could open the way for further weakness.
Other major currencies also struggled to escape multi-month lows, leaving the British pound, Canadian dollar, Australian and New Zealand dollar under pressure in the Asian trading session.
The Australian dollar took a hit from weak retail sales data and expected further weakness in the near term, as a large part of the country is closed to slow the transmission of the coronavirus, down 0.3% at $0.7310. Ended 29/A 4
, the dollar rose, on Wednesday, to the cusp of its highest levels in a year, as fears of high rates of virus infection boosted gains that were built on the basis of expectations of high interest rates.
The euro touched its lowest level since April on Tuesday, at $1.1772 in Asia, not much higher than this year's low of $1.1704.
It may find support if the European Central Bank fails to meet expectations of a peaceful adjustment to its interest rate guidance at its meeting scheduled for Thursday, but if that is delivered, it could open the way for further weakness.
Other major currencies also struggled to escape multi-month lows, leaving the British pound, Canadian dollar, Australian and New Zealand dollar under pressure in the Asian trading session.
The Australian dollar took a hit from weak retail sales data and expected further weakness in the near term, as a large part of the country is closed to slow the transmission of the coronavirus, down 0.3% at $0.7310. Ended 29/A 4
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