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Tuesday, March 21, 2023

The depreciation of the dollar and the appreciation of the euro

The dollar recorded losses today, as optimism about China’s reopening was boosted by encouraging data and support for Asian currencies, while persistent inflation looked ahead for its best week in a month and a half.


The dollar lost 0.9 percent against the euro overnight. The euro rose 1.2 percent over the course of the week, and was last recorded at $1.0667 in light of higher-than-expected German inflation in February. The yen rose slightly to 136.04 per dollar in early trading, and the Australian dollar recorded 0.6759 US dollars, and its New Zealand counterpart 0.6255 dollars, while the yuan recorded 6.8731 per dollar in foreign trade, and the pound sterling settled at 1.2027 dollars. Inflation data for the eurozone is due later today.

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