© Reuters. Dollar billets REUTERS/Ricardo Moraes
Por Saikat Chatterjee
LONDON, Jan 14 (Reuters) – The dollar fell for a fourth straight day on Friday to hit its lowest level in more than two months, as investors warned they had already factored in the central bank’s most extreme monetary tightening stances. American.
* On Friday, the greenback fell 0.2% to 94.62 against a basket of rival currencies, its lowest level since early November.
* On a weekly basis, it is expected to post a 1.11% drop, its biggest decline since December 2020. On Thursday, the dollar fell below its 100-day moving average for the first time since June 2021.
* “The dollar’s correction to November lows tells us that investors see enormous value in other currencies and that an overly aggressive stance from the Federal Reserve, leading to rising debt returns, threatens to weaken the economy and drive down asset valuations,” said Kenneth Broux, currency strategist at Societe Generale (PA :).
* Against other currencies, the dollar’s losses were more pronounced against the yen and the yuan, against which it posted drops of 0.4% and 0.3%, respectively.
* Meanwhile, the euro is up more than 1% on the week and has broken out of a range it has held since late November, hitting its highest level since Nov. 11 at $1.1483.
(Reporting by Saikat Chatterjee. Editing in Spanish by Marion Giraldo)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.