Dollar Hovers Near 9 Month Low| MENAFN.COM

Wednesday, 01 February 2023 03:28 GMT

Dollar Hovers Near 9 Month Low


(MENAFN- The Peninsula) QNA

Tokyo: The dollar hovered near a nine-month low to the euro and lost recent gains against the yen yesterday, as traders weighed the risks of a US recession and the path for Federal Reserve policy.

The US dollar index - which measures the greenback against a basket of six peers, including the euro and yen - slipped 0.12 percent to 101.89, heading back towards the 7-1/2-month low of 101.51 reached last week.

The euro added 0.08 percent to $1.0880, taking it closer to Monday's peak of $1.0927, the strongest since April. Europe's single currency has been buoyed by comments from European Central Bank officials pointing to further aggressive policy tightening.

The US$ sank 0.41 percent to 130.11 yen, retreating after two sessions of strong gains. thesterling was last trading at $1.2391, up 0.12 percent on the day.

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