During today’s trading, the dollar is weakly strengthening against the euro and the pound sterling, continues to fall in price in tandem with the yen. The ICE-calculated index showing the dynamics of the dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona) adds 0.02%, the broader WSJ Dollar Index – 0.06%. The dollar index ICE is at 111.38 points, remaining close to the 20-year high recorded the day before (111.81 points). The dollar is supported both by expectations of further tightening of the policy of the Federal Reserve System (Fed), as well as a general increase in demand for “safe haven” assets in the face of growing geopolitical tensions and fears of a global recession. As of 9:01 Moscow time, the euro was worth $0.9830 compared to $0.9836 at the close of the previous session. By 9:00 Moscow time, the pound fell to $1.1239 against $1.1261 the day before. The value of the dollar against the Japanese national currency fell at the same time to 142.12 yen compared to 142.39 yen at the close of the market on Thursday. The day before, the dollar lost 1.2% against the yen due to Japan’s intervention in the foreign exchange market. Tokyo intervened to support the yen for the first time since 1998. Further FX intervention is likely to keep the dollar/yen below 145 yen/$1, according to Capital Economics analysts Thomas Matthews and Jonas Goltermann. The discrepancy between the rates of the US and Japanese central banks will decrease over time, but in the short term this factor will continue to put pressure on the yen, according to a Capital Economics survey, which quotes Dow Jones. Source: FINMARKET.RU

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