U.S. dollar rises as euro dips – The Foreigners magazine In tokyo
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U.S. dollar rises as euro dips

Written by on October 26, 2021

NEW YORK, Oct. 25 (Xinhua) — The U.S. dollar appreciated in late trading on Monday, as the euro weakened ahead of a key meeting of the European Central Bank (ECB).

The dollar index, which measures the greenback against six major peers, increased 0.18 percent at 93.8157.

In late New York trading, the euro decreased to 1.1612 U.S. dollars from 1.1636 dollars in the previous session, and the British pound rose to 1.3769 dollars from 1.3755 U.S. dollars in the previous session. The Australian dollar increased to 0.7493 U.S. dollar from 0.7465 dollar.

The U.S. dollar bought 113.70 Japanese yen, higher than 113.43 Japanese yen of the previous session. The U.S. dollar rose to 0.9195 Swiss franc from 0.9162 Swiss franc, and it increased to 1.2385 Canadian dollars from 1.2366 Canadian dollars.

The above market reactions came as the ECB is set to meet on Thursday.

“There is no proof that the market principally shares our economists’ view that the ECB will pursue a more expansionary monetary policy than the Fed. The fact that the market presumes the ECB will hike interest rates during a period in which inflation does not exceed the ECB’s target, reflects the market’s conviction that the ECB will take very decisive action against the risks of inflation,” Ulrich Leuchtmann, FX analyst at Commerzbank, said Monday in a note.

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