The fourth session of the dollar’s decline .. losses are more...


Yesterday, the US dollar fell for the fourth consecutive session, hitting its lowest level in more than two months, with investors adopting the view that most of the recent tightening tendency from the “US Fed” was already in mind.
According to “Reuters”, the dollar index fell 0.2 percent to 94.62 against a basket of currencies, its lowest level since early November.
On a weekly basis, it fell 1.11 percent, its biggest drop since December 2020. On Thursday, it fell below its 100-day moving average for the first time since June 2021.
Against the other major currencies, the dollar’s losses were more pronounced against the Japanese yen and the Chinese yuan, as it fell against them by 0.4 percent and 0.3 percent, respectively.
The euro rose more than 1 percent since the beginning of the week and exited the range it had been confined to since late November, hitting its highest level since November 11 at $1.1483.
The pound rose despite a political crisis that threatens the survival of Prime Minister Boris Johnson in office, and the pound achieved the fourth consecutive weekly increase of more than 0.5 percent, and reached in the latest trading of $ 1.3730.
Cryptocurrencies stabilized after a volatile week, with Bitcoin prices remaining near their lowest in more than three months at just under $42,000.
In addition, gold prices recorded yesterday the highest weekly increase since November, supported by the decline in the dollar and the yield on US Treasury bonds, while traders are awaiting more economic data to clarify the time frame for reducing the US Central Bank’s program to buy bonds.
And gold in spot transactions rose 0.2 percent to $ 1826.51 an ounce and rose by about 1.7 percent this week. And US gold futures rose 0.3 percent to $ 1826.80 an ounce.
The loss of the dollar makes gold less expensive for holders of other currencies. The 10-year US Treasury yield is also facing its first weekly decline in four weeks.
As for other precious metals, silver increased in spot transactions 0.4 percent to $23.16 an ounce, and is heading towards recording the best weekly performance in two months.
Platinum rose 0.9 percent to $978.32 an ounce and is heading towards recording a weekly increase.
And palladium fell 0.8 percent to $ 1871.87 an ounce and is headed for a weekly loss.





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