US dollar slackening vs euro

Posted 16 August, 2018

At the Asian trading, the US dollar posted weakening against the euro. 

The US dolla fell under pressure following the reports that Washington invited Chinese delegation of the Trade Ministry headed by the deputy minister to visit the USA in late August. 

At the same time, the Turkish lira makes upward attempts, though the currencies of many emerging markets are reportedly slackening.

According to the available data, the ICE US Dollar index decreased by some 0.28%. At the same time, the WSJ Dollar that reflects the US dollnar changes vs 16 majors dipped by 0.27%. 

The US dollar rose against the Japanese yen to 110.81. The Wednesday trading ended at 111.74. Meanwhile, the euro to yen rate was recorded at 126.23, though the yesterday session was closed 125.64.

The euro-to-US dollar exchange rate went up to $1.1379 this morning, while the yesterday's session was closed at $1.1345.

Turkish lira is quoted now at 5.85 vs the greenback (5.95 yesterday). As for the euro to the lira, the rate stands at 6.66 (6.75). Some market experts beleive that the lira is oversold now, adding that the fair exchange rate may be $1 = TRY 5.5 in view of the deficit on the current operations in Turkey.

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