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Published on 19/09/2022 9:56:10 AM | Source: GEPL Capital

The U.S. dollar strengthened in early European trade Friday - GEPL Capital

Posted in Currency Report| #GEPLCapital Ltd #Currency Tips

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News / Other data

* Singapore’s dollar has established itself as Asia’s most resilient currency against the US dollar this year, and some strategists are betting on more strength if price pressures force the nation’s central bank to tighten its exchange-rate policy again next month.

* The dollar index was down slightly on Friday but registered a gain for the week as investors expected the U.S. Federal Reserve to remain aggressive when it hikes interest rates next week, while China's yuan eased past the key threshold of 7 per dollar.

* The leaders of the Shanghai Cooperation Organisation (SCO) agreed on Friday to take steps to increase the use of national currencies in trade between their countries, according to a joint declaration adopted on Friday.

* Thailand's central bank on Friday said it was closely monitoring the baht and was ready to manage any excessive moves in the currency which hit its weakest level in nearly 16 years.

* The U.S. dollar strengthened in early European trade Friday, while the Chinese yuan broke through a crucial threshold as concerns over rising interest rates and a potential recession dented risk appetite.

Data inference

* No Economic event

 

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