US dollar fluctuates in mid-week with weaker positions vs yen and pound

Posted 27 February, 2019

The US dollar followed different trends in the middle of the week. The American currency lost grounds against the yen and the pound sterling.

The US Dollar index improved to some 95.870 following the recent decline. 

According to the available statistics, the US dollar-to-yen exchange rate decreased to 110.54. The Japanese currency is going up on the escalation of the conflict between India and Pakistan once the latter stated reported about two Indian warplanes shot down on the borderline.

At the same time, the pound sterling remained near a 5-month peak that was hit yesterday. The exchange rate was seen at $1.1336. The British currency got support from the statements made by Theresa May lately saying that the UK government got a proposal to delay the Brexit to avoid no-deal scenario.

The euro-to-US dollar rate slightly dipped to some $1.1385.

The greenback faced certain pressure from the message of the US Fed Jerome Powell in which he confirmed the break in the interest rate revision. Moreover, stronger sterling pound also depressed the US dollar.

One of the market analysts noted that the US dollar weakening was slightly unexpected since Jerome Powell failed to unveil anything new in his message. 

According to Powell's statement, stronger risks and unimpressive economic reports are unlikely to restrain stable economic growth in the USA this year, though the Central Bank will be patient in terms of the monetary tightening.

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27 February, 2019 15:33

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