17.06.2024 US
845 day since the barbaric invasion of Ukraine

The U.S. Dollar Rises Against the Yen, Stable Against the Euro and Pound Before Central Bank Meeting

The U.S. dollar is strengthening against the Japanese yen, maintaining stability against the euro and the pound in light of the upcoming meetings of the world's central banks

Oleksandr Budariev
U.S. Dollars and Euros
U.S. Dollars and Euros / pexels.com

The U.S. dollar exchange rate remains relatively stable against the euro and the British pound, but is strengthening against the Japanese yen amidst the upcoming meetings of the world's largest central banks.

The ICE DXY Index, which reflects changes in the dollar's value against a basket of six currencies (euro, Swiss franc, yen, Canadian dollar, sterling, and Swedish krona), rose slightly by 0.02%, while the broader WSJ Dollar Index increased by 0.12%, reports "Interfax-Ukraine".

The euro/dollar pair fluctuates slightly, with the current rate at $1.0771 compared to $1.0763 at the end of the previous session, indicating a slight strengthening of the euro by less than 0.1%.

The sterling to U.S. dollar exchange rate has hardly changed, remaining at $1.2545 compared to $1.2549 at the end of the last trading session.

Meanwhile, the dollar has significantly risen against the yen, increasing by 0.5% to 145.61 yen from 144.95 yen at the end of the previous trading day.

The dollar's position is strengthening due to recently published U.S. labor market data, which showed an unexpectedly strong increase in job numbers and a decrease in unemployment levels.

Investors are also closely monitoring the last meetings of the year of the world's major central banks, which will take place this week.

The decisions of the U.S. Federal Reserve System will be announced on Wednesday, and those of the Bank of England and the European Central Bank - on Thursday. Most analysts and market participants assume that all three central banks will maintain their current monetary policy unchanged.


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