Mon, 28 April
11.1 C
Yerevan
USD: 390.33 RUB: 4.73 EUR: 443.14 GEL: 142.02 GBP: 519.57
spot_img

Dollar falls on growth doubt as yen rises amid oversold signals: Bloomberg

YEREVAN, November 27. /ARKA/. The dollar fell against the yen for a third day, the longest streak in a month, after data raised concern the U.S. economic recovery has plateaued.

The yen rose versus most of its 16 major peers as trading patterns signaled its recent declines were excessive amid speculation traders are reducing bearish positions into month-end. An index of the U.S. currency was little changed as a gauge of whether U.S. economic data has beaten or fallen short of forecasts slid to the lowest level since August. The Norwegian krone was little changed before representatives from oil-producing countries meet to discuss crude output.

“Softer data and falling U.S. yields have encouraged people to unwind their long dollar positions,” said Jeremy Stretch, head of foreign exchange strategy at Canadian Imperial Bank of Commerce in London.

“The primary concern for the dollar was the weight of positioning, so a modest washout will be encouraging.” A long position is a bet that an asset price will advance.

The Bloomberg Dollar Spot Index, which tracks the currency versus 10 major peers, dropped 0.1 percent to 1,096.36 at 8:33 a.m. London time. It ended the day at 1,100.97 on Nov. 24, the highest close since March 2009. The dollar fell 0.3 percent to 117.4 yen and was little changed at $1.2497 per euro. –0–

spot_img

POPULAR

“Bear market’: sale of crypto-assets or the right time to buy

According to many news reports, cryptocurrencies are experiencing now a "troubled" time and might not survive in this massive bear market

Russian president gives Yerevan-based Balchug Capital permission to buy Gazprom, Inter RAO, and LUKOIL shares from Goldman Sachs

Goldman Sachs International will be able to sell minority stakes in a number of Russian blue chips to Balchug Capital CJSC, the same company that received permission from Russian authorities to buy the local banking unit of the American financial group.

Insurance premiums in Armenia in Q2, 2023 amounted to AMD 17.7 bln.

Insurance premiums in Armenia amounted to over 17.7 bln drams in Q2, 2023, according to the National Statistical Committee

Draft law on crypto assets to be submitted to Armenian parliament in coming weeks – Deputy Chairman of Central Bank

The draft law on crypto assets, developed by the Central Bank of Armenia in the context of European norms, will be submitted to the Armenian parliament in the coming weeks, said Deputy Chairman of the Central Bank Armen Nurbekyan.

Euro exchange rate sharply up 1.9 points to AMD 445.1

The average market exchange rate of the U.S. dollar to the Armenian dram on April 14, 2025, decreased by 0.15 points to AMD 390.92 compared to April 11.

LATEST NEWS

spot_imgspot_imgspot_img