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The dollar fell to 4-month lows

The dollar fell to 4-month lows

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Erik Holm - Head of media

On Thursday, the US dollar fluctuated near four-month lows, having suffered the largest losses in a few weeks after the Federal Reserve forecast to maintain current interest rates in 2020. Investors were cautious in anticipation of the deadline for the introduction of duties, which will come this Sunday, as well as before the ECB meeting and election in the UK.

The US dollar fell to a one-month low against the euro after the Fed meeting and by 9:30 London time, it rose slightly above this level to 1.1126. The US dollar index against a basket of major-currencies recovered slightly after a four-month low but remained weak at 97.09. The US currency rose to 108.61 against yen.

Fed Chairman Jerome Powell noted that the economic outlook is favorable for the US, and said that raising rates would require a substantial and steady increase in inflation. New economic forecasts showed that 13 out of 17 Fed politicians do not expect interest rates to change until at least 2021.

Today, US President Donald Trump is expected to meet with leading trading advisers to discuss $160 billion in Chinese goods duties scheduled for December 15. The decision to impose fees could excite financial markets and disrupt negotiations between the US and China to end the 17-month trade war.

Pound hits a 31-month high

Pound hits a 31-month high

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Jim Anderson - Public Relations

On Monday, the British pound reached a 31 – month high against the euro and a seven – month high against the US dollar amid growing confidence in the conservative party’s victory on Thursday, putting an end to political paralysis over Brexit. By 9:00 London time, the euro reached a low of 0.8406 to the pound, the lowest level since May 2017.

The pound rose as fears of a “suspended” parliament receded after a public opinion poll showed on Monday that a conservative party had increased leadership over Labor to 14 percentage points from 9 points a week ago. The pound peaked against the dollar at 1.2180 – the highest level since May, and last traded at 1.31631.

On Monday, demand for the dollar was supported by a strong Friday employment report, but the currency is not easy due to fears of an escalation of the trade war between the US and China. The US dollar index fell to 97.59 after rising by 0.3% on Friday. The euro was trading at 1.1065 after reaching a weekly low of 1.1039 on Friday.

Stable rise of the dollar is continuing

Stable rise of the dollar is continuing

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Erik Holm - Head of media

During today’s Asian trading, the US dollar is rising slightly against major world currencies. The attention of the markets is focused on news regarding US foreign trade policy.

US sales spokesman Robert Lightheiser said Washington impose import duties at a rate of up to 100% on French goods of up to $2.4 billion in response to France’s digital tax discriminating against US companies.

Yesterday, US President Donald Trump announced the restoration of barrage duties on the import of steel and aluminum products from Argentina and Brazil. The head of state expressed dissatisfaction with the depreciation of the national currencies of these countries, which makes their supplies to the States more competitive.

As of 7:00 GMT, the euro was worth $1.1074 against $1.1079 at the close of the last session. Yesterday, the dollar fell by 0.56% against the euro, which was the largest drop since September 17.

The ICE Dollar Index, which shows the value of the US dollar against six major world currencies, is growing at 0.06% compared to the previous day. The WSJ Dollar indicator, which tracks the dynamics of the dollar against 16 major world currencies, is adding 0.02%.

The pound is slightly more expensive against the dollar, at 7:00 GMT it was $1.2942 against $1.2939 on the previous business day and 1.1686 euros against 1.1680 euros.

USD rose due to a progress in Trade Conflict

USD rose due to a progress in Trade Conflict

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Jim Anderson - Public Relations

On Wednesday in Asia, the US dollar added slightly after US President Donald Trump announced that Washington and Beijing are in the “final stages of a very important deal”. This gave hope for the signing of the agreement and the suspension of the 16-month trade conflict. However, Trump also expressed support for the demonstrators in Hong Kong, a sore point in relations with China.

On Tuesday, the Chinese Ministry of Commerce stated that phone conversation was held between representatives of the countries and “a consensus was reached on resolving key issues”, but didn’t provide additional details. The call was later confirmed by US officials, but they also noted that obstacles still persist.

Futures on the US dollar index rose 0.1% to 98.270 at 00:00 New York time. US stock and bond markets will be closed on Thanksgiving Thursday. The EURUSD fell by 0.1% to 1.1008. Eurozone inflation data for October will be released on Friday. The GBPUSD rose by 0.1% to 1.2851. The pair USDJPY rose by 0.1% to 109.14. The AUDUSD pair fell by 0.2% to 0.6770.

Bitcoin dropped below 6.963.7, a decline of 3%

Bitcoin dropped below 6.963.7, a decline of 3%

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Jim Anderson - Public Relations

The Bitcoin cryptocurrency fell below $6.963.7 on Wednesday. During the day, the Bitcoin was trading at 6.963.7 at 9:03 GMT according to the Investing.com index, dropping by 2.97%. This was the largest currency depreciation since November 24.

The downward movement reduced the market capitalization of Bitcoin to $129.3B, or to 65.04% of the total capitalization of all cryptocurrencies. Earlier at the highest value, the market capitalization of the Bitcoin cryptocurrency was $241.2B.

The Bitcoin cryptocurrency has been trading at between $6.961.4 and $7.183.8 in the past 24 hours. Over the past 7 days, the Bitcoin has shown a drop in value by 12.25%. The Bitcoin volume over the past 24 hours has amounted to $18.4B or 28.76% of the total volume of all cryptocurrencies. It has been trading at between $6.534.7690 and $8.129.6040 over the past 7 days.

At the moment, the Bitcoin still showed below 64.95% of its peak value, amounting to $19.870.62, which were reached on December 17, 2017.