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Currency: the dollar and the ruble up, the pound weak

19/01/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex

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The currencies move in scattered order at the end of this week. The Russian ruble opened slightly higher, the dollar headed for a second weekly gain on a temperate rate outlook. For its part, the British pound has lost ground.

The Russian ruble opened slightly higher on Friday. At 0715 GMT, the ruble was 0.4% stronger against the dollar at 88.67 and had gained 0.13% against the euro at 96.49. It strengthened by 0.02% against the yuan

to 12.26.

Weekly gains of 1.6% and 2.3% on risk-sensitive Australian and New Zealand dollars are expected to be the largest since November and July respectively. Markets estimate the likelihood of a fall in US rates in March at 57%, up from 75% a week ago

.

The British pound lost ground against the dollar and the single currency on Friday, with the latest report on retail sales in the United Kingdom likely to push the Bank of England (BoE) to lower rates more quickly than expected. The British currency lost 0.14% against the greenback, to 1.2688 dollars per pound, and the euro gained 0.23% against the pound, to 85.79 pence for

one euro.
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