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Foreign Exchange

Date : 2024-10-04
Time : 10:00:00
Foreign Exchange
  • Pro-growth currencies have struggled recently, but the upcoming economic data and central bank meetings are expected to curb further gains in the USD, UBS noted while providing insights into recent currency market movements.
  • The U.S. dollar slipped slightly Friday, falling from a six-week high ahead of a key jobs report that could determine sentiment ahead of the Federal Reserve’s next meeting. 
  • On Thursday, the British pound experienced a significant decline, which Capital Daily analysts attribute to a combination of factors including the Bank of England's (BoE) dovish monetary policy outlook, the currency's high valuation, and extended speculative positions.
  • The U.S. dollar rose Thursday, benefiting from robust employment data as well as the uncertainty caused by the Middle East turmoil. 
  • The dollar hit a three-week high against the euro on Wednesday after the ADP national employment report showed U.S. private payrolls increased more than expected in September, ahead of Friday's highly anticipated jobs data.

 

 

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