Lira rebounds, US dollar slightly down

Posted 14 August, 2018

The US dollar trimmed gains at the Asian session on Tuesday. As the panic driven by the Turkish crisis fades away in the global markets, the Japanese currency has also posted some decline.

The ICE index decreased by 0.1% this morning.

The US dollar weakened against the euro – the euro-to-US dollar exchange rate was at $1.1414, while the previous session was closed at $1.1410. Meanwhile, the euro to yen was recorded at 126.68 (126.32 earlier).

The US dollar to yen rate rose to some 111.08 (110.70 earlier).

After an almost 4-day slump, the Turkish lire rebounds against the US dollar on Tuesday, even after the US national security advisor said that Washington has nothing to discuss with Turkey until their request is fulfilled.

For reference, the conflict against the USA and Turkey pushed the lira down among other reasons. Today, the greenback reached 6.557 vs the lira (6.8838 earlier). Specifically, the lira plunged by 7% yesterday and 20% a week ago.

As a result, weaker lira affected other currencies of developing economies, even including South African rand, Mexican peso and Chinese yuan. One of the Asian markets analysts noted that the Turkish crisis remains in the spotlight for now.

 

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14 August, 2018 11:46

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