Hello everyone, watch the video sharing updates on the latest USD and Euro exchange rates today, like the USD exchange rate. USD exchange rate today The USD suddenly rebounded to 103
Meanwhile, in the US market, the US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.75%, reaching mark 103.51.
Update USD exchange rates today around the world
The dollar rose in recent trading session, following profit-taking by investors betting that the currency will weaken further, despite signs that the US economy is slowing.
Economic data on November 30 showed that the US Federal Reserve (Fed) may have finished raising interest rates and could begin easing by the middle of next year, which is usually a factor that has a negative impact on the economy. with USD.
Analysts said the weakness of the Euro following a dismal inflation report in the Euro zone also partly helped boost the greenback.
“We were expecting dollar selling at the end of the month as US stocks surged,” said Vassili Serebrikov, foreign exchange strategist at UBS in New York. However, it is possible that some of the selling took place at the beginning of the month, so it is possible that there will be less USD selling at the end of the month.”
The dollar is still rising despite reports that inflation in the US continued to moderate in October, and the number of applications for unemployment benefits increased in the latest week, showing that the labor market is slowing.
Accordingly, US inflation measured by the Personal Consumption Expenditure Index (PCE) remained unchanged in October, after increasing by 0.4% in September. Besides, the PCE Index achieved an annual increase. was 3.0% in October. Meanwhile, initial state unemployment claims increased by 7,000 to 218,000 last week.
Fed funds futures contracts are currently pricing in about a 47% chance of cutting interest rates at the meeting taking place on March 19 and 20, 2024.
Elsewhere, the euro fell after new data showed euro zone inflation fell more than expected this month, boosting bets that the European Central Bank will cut soon. interest rate.
Accordingly, the Euro decreased by 0.7%, to 1.0889 USD, but still achieved a monthly increase of 3%, the largest level since November 2022.
Compared to the Japanese yen, the USD increased by 0.7%, reaching 148.20 yen/USD. However, in November, the greenback fell 2.3% against the Japanese yen, currently on track for its biggest monthly decline since December last year.
