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.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.