Dollar is the highest level in a month
Friday – 19 months Ramadan 1440 H – May 24, 2019 AD Number of the issue [
London: Middle East
The dollar hit a month high as economic and political uncertainty spread across Europe and Asia, causing most major currencies such as the euro and the yuan to fall.
Concerns about the German manufacturing industry, the impact of the trade war on Asian economies, and concerns about Britain's departure from the European Union and the upcoming parliamentary elections in Europe are becoming increasingly difficult for many countries in Europe and Asia in difficult times.
The dollar index, which tracks the return of the greenback, against a basket with 6 major currencies, hit 98,189, the highest level since April 26, when it reached a two-year high of 98.33.
The euro fell to a low of $ 1.1333 in early trading in the first month, while the pound fell below $ 1.26 for the first time since early January.
The yen generally rose on Wednesday as continued trade concerns about the US and China, concerns about Britain's exit from the EU, fueled risk aversion and raised the Japanese currency as a safe haven.
The yen rose 0.1 percent to 110.23 per dollar, after rising from a low of 110.675 with a two-week peak on Tuesday. The Japanese currency rose by 0.2 percent against the euro, 0.5 percent higher against the pound and 0.3 percent against the Australian dollar.
This is because the US Federal Reserve officials agreed at their last meeting that their current approach to monetary policy patients may continue "for some time," in a new sign that policymakers see little need to adjust prices. Interest up or down.
According to the minutes of the April 30 and May 1 meeting of the Federal Reserve, officials discussed hosting mechanisms that would allow them to structure their holdings of securities, which are estimated to be trillions of dollars in the best way to counter future economic slowdown.
The Fed held its last meeting before US President Donald Trump's government raised rates for Chinese goods and intensified tensions in global trade, with restrictions imposed on Huawei.
At that time, as US growth continued, inflation remained "subdued" and some global risks seemed to be easing, members of the Monetary Policy Committee felt that "the approach to patience … probably some more time would be appropriate … even if economic and financial conditions were continued. Global recovery ».
While "few" participants warned about the risks of inflation and the possible need to raise interest rates, and various "participants" warned that inflation could fall, the minutes of the MPC meeting showed that the committee will wait until there is a convincing change in economic data in one direction. The committee left the target rate unchanged at that meeting and remained at 2.25 and 2.5 percent.