Monday , August 8 2022

16-Month High Dollar, Blurred British Retirement Strikes Sterling and Euro | Market Talk


The dollar rose for the first time in 16 months, compared to two major contenders, though foundries and the euro fell due to uncertainty surrounding the UK exit in the European Union.

The US currency was supported by the Federal Reserve and the rate hikes last week were finalized next month, and the rate hike is continuing two more times until mid-2019 due to the economic boom.

The dollar index, which measured the performance of the US currency against the six major currencies, rose more than 0.5 percent to 97.42, The dollar rose for the fourth consecutive week and rose 0.4% last week.

Concerns about the eurozone split fell 0.7 percent to $ 1.1257, the lowest level since June 2017. The loss of the eurozone has continued for four consecutive years.

The dollar rose 0.3 percent to 114.18 yen. This is the lowest since October 4.

The Standard & Poor's 500 index was down 0.1 percent, but the Standard & Poor's 500 index was down 0.3 percent.

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