Dollar in advance of the comment by Powell, Yuan is monitored
Today, the dollar stabilizes the following remarks from the chairman of the Federal Reserve Jerome Powell last week that caused the dollar to decline, whereas the Chinese yuan currency grew after the Chinese People's Bank intervened to support the local currency.
At 5:18 AM ET (9:189 GMT), the US dollar index, measuring the strength of the dollar versus a six major currency basket, increased 0.05% to 95.13, after a decrease of 0.54% on Friday.
The decline of the dollar late last week by Powell adjusted the interest rate of the FED increased in accordance with the strong growth of the U.S. economy and the labor market, which reduces the concern that the Central Bank of America is considering the school More extreme monetary policy.
"As the most recent statement by FOMC suggests, if strong growth in income and employment continues, the gradual increase in the target range for federal fund interest may be appropriate," he concluded.
Meanwhile, China's Chinese yuan was raising interest rates earlier on Monday when the People's Bank of China (PBOC) intervened to support currency by reintroducing an element of cycle resistance to the daily adjustment mechanism to 6.8508 Every dollar.
The average score of Chinese yuan today is 202 pips, or 0.3%, certainly more than the previous 6.8710 on Friday.
PBOC said on Friday that the bank will continue to use the element "cycle resistance" when calculating the daily rate of reference of yuan to support this coin when the dollar is increasingly strong and the trade tensions are taking place Between Washington and Beijing.
China has discontinued this factor in January, when managers are more comfortable with the power of the yuan people after several months of increase compared to the dollar.
The Turkish Lira also attracted interest when merchants returned from the long Muslim holiday of Eid al-Adha last week. The USD/TRY rate increased by 2.63% to 6.603 when the market continued to focus its attention on the monetary policy of President Tayyip Erdogan and the strike with Washington on the fate of Pastor Andrew Brunson, being administered in Turkey over the terrorist crimes he denied.
In the first commentaries on monetary crisis since the pre-holiday period, Erdogan said Saturday that the commitment and determination of the Turks is the guarantee necessary to counterattack the Turkish economy.
Other currencies are less varied from the dollar today. The EUR/USD has dropped by only 0.08% at 1.1613. Some observers state that the modest decline in the exposure of the Euro area to Turkey.
A hope of the day for the economic data, German entrepreneurship has increased this year, improving more than expected and limiting losses of the common European currency. "In addition to the strong domestic economic situation, the ceasefire in trade conflict with the United States has contributed to the enhancement of the trust of the business," says Ifo Clemens Fuest speaking director.
The exchange rate GBP/USD drops 0.08% to 1.2838, when London investors are on the bank vacation in the UK.
In other forex transactions, the USD/JPY rate fell 0.07% to 111.18, USD/CAD rate increased by 0.02% to 1.3029, while USD/CHF was reduced by 0.02% to 0.9833.
At 5:18 AM ET (9:189 GMT), the US dollar index, measuring the strength of the dollar versus a six major currency basket, increased 0.05% to 95.13, after a decrease of 0.54% on Friday.
The decline of the dollar late last week by Powell adjusted the interest rate of the FED increased in accordance with the strong growth of the U.S. economy and the labor market, which reduces the concern that the Central Bank of America is considering the school More extreme monetary policy.
"As the most recent statement by FOMC suggests, if strong growth in income and employment continues, the gradual increase in the target range for federal fund interest may be appropriate," he concluded.
Meanwhile, China's Chinese yuan was raising interest rates earlier on Monday when the People's Bank of China (PBOC) intervened to support currency by reintroducing an element of cycle resistance to the daily adjustment mechanism to 6.8508 Every dollar.
The average score of Chinese yuan today is 202 pips, or 0.3%, certainly more than the previous 6.8710 on Friday.
PBOC said on Friday that the bank will continue to use the element "cycle resistance" when calculating the daily rate of reference of yuan to support this coin when the dollar is increasingly strong and the trade tensions are taking place Between Washington and Beijing.
China has discontinued this factor in January, when managers are more comfortable with the power of the yuan people after several months of increase compared to the dollar.
The Turkish Lira also attracted interest when merchants returned from the long Muslim holiday of Eid al-Adha last week. The USD/TRY rate increased by 2.63% to 6.603 when the market continued to focus its attention on the monetary policy of President Tayyip Erdogan and the strike with Washington on the fate of Pastor Andrew Brunson, being administered in Turkey over the terrorist crimes he denied.
In the first commentaries on monetary crisis since the pre-holiday period, Erdogan said Saturday that the commitment and determination of the Turks is the guarantee necessary to counterattack the Turkish economy.
Other currencies are less varied from the dollar today. The EUR/USD has dropped by only 0.08% at 1.1613. Some observers state that the modest decline in the exposure of the Euro area to Turkey.
A hope of the day for the economic data, German entrepreneurship has increased this year, improving more than expected and limiting losses of the common European currency. "In addition to the strong domestic economic situation, the ceasefire in trade conflict with the United States has contributed to the enhancement of the trust of the business," says Ifo Clemens Fuest speaking director.
The exchange rate GBP/USD drops 0.08% to 1.2838, when London investors are on the bank vacation in the UK.
In other forex transactions, the USD/JPY rate fell 0.07% to 111.18, USD/CAD rate increased by 0.02% to 1.3029, while USD/CHF was reduced by 0.02% to 0.9833.
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