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The dollar stops its “downward journey” after intense selling operations
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Economy News _ Baghdad
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Added 12/05/2023 - 9:50 AM
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Economy News _ Baghdad
The dollar regained some of its gains in trading today, Tuesday, and is hovering near the highest level in a week against major competing currencies, while Bitcoin continued its rise thanks to optimism that US regulators may soon approve Bitcoin exchange-traded funds.
The dollar rose slightly against the yen in early trading in Asia to 147.23, supported by the slowdown in core inflation in Tokyo, which imposed downward pressure on the Japanese currency.
Meanwhile, the euro approached the lowest level in three weeks that it recorded yesterday, Monday, and was last traded at $1.0840. The dollar index also approached its highest level in more than a week, recording 103.59 in the latest reading.
The British pound rose 0.08 percent to $1.2642, but it was somewhat far from its highest levels in three months recorded recently, and the New Zealand dollar also moved slightly away from the highest level in four months and recorded in the latest transactions $0.6173.
The Australian dollar settled at $0.6620 ahead of the Reserve Bank of Australia's interest rate decision scheduled for later on Tuesday, amid expectations that the central bank will keep interest rates unchanged.
In the latest transactions, Bitcoin recorded $41,873, a level not far from the peak of the previous session of $42,404, which is the highest level since April 2022.
Views 26
Added 12/05/2023 - 9:50 AM
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