Currency market: The dollar is stable against the euro and depreciates against the yen
The US dollar exchange rate is stable against the euro, depreciating slightly against the Japanese yen and the pound sterling in anticipation of the first meetings of the Federal Reserve System, the European Central Bank and the Bank of England this year. Investing writes about it.
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Rate decisions
The Federal Reserve will announce the results of the meeting on Wednesday, February 1. Analysts expect that the leadership of the Fed will increase the key interest rate by 25 basis points, that is, the increase will be more moderate than at previous meetings.
Market participants will also be closely following the speech of Fed Chairman Jerome Powell, hoping to receive new signals regarding the future trajectory of monetary policy.
Last week it became known that the growth of the basic index of consumer prices (the Core PCE index), which is closely monitored by the Federal Reserve System when assessing the risks of inflation, slowed down to 4.4% in December compared to 4.7% in November, renewed the minimum for fourteen months.
Read also: The exchange rate of the dollar and the euro this week: why currency risks will increase
The results of the meetings of the ECB and the Bank of England will be announced on Thursday. Experts expect that both central banks will raise interest rates by 50 bp.
Currency market
As of Monday morning, the EUR/USD pair is trading at $1.0867 versus $1.0868 at the close of last Friday’s session.
The dollar to yen exchange rate decreased by 0.22% and is 129.60 yen compared to 129.88 yen at the end of trading on Friday.
The pound sterling rose by 0.10% to $1.2394 against $1.2382 at the close of the previous session.
The calculated ICE index showing the dynamics of the US dollar against six currencies (the euro, the Swiss franc, the yen, the Canadian dollar, the pound sterling and the Swedish krona) decreased by less than 0.1% during morning trading.
Author: 
News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments
- Dollar
- Euro
- Currency
Source: Ministry of Finance
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