The US dollar index fell against 6 major currencies, 0.24%, to 106.26 points, before continuing to decline (Getty Images)

The dollar on Wednesday hit just over its lowest level in several months against most major currencies, as flows supporting the safe-haven currency slowed, after US President Joe Biden said a missile that caused an explosion in Poland may not have been launched from Russia.

Poland (a NATO member) and Ukraine said on Tuesday that the explosion that killed two people on the Polish side was likely caused by a Russian-made missile, raising fears of an escalation in the war.

It is likely that Russia did not launch the missile, Biden said, though investigations are ongoing. Russia denies responsibility for the blast.

The euro rose in the latest transactions by 0.7%, to reach $ 1.0422, and headed to regain the highest level in 4 and a half months at $ 1.0481, which it touched the previous day, after producer price inflation in the United States came less than expectations, which reinforced bets that inflation Consumer prices which came in lower than expected last week will be repeated.

The single European currency fell from this level to 1.028 dollars after the news of the explosion in Poland, which pushed dealers towards the safe haven dollar, which also caused stocks to decline.

The dollar rose slightly against the Japanese yen, recording in the latest trading 139.4 yen, amid high returns on long-term US Treasury bonds during trading in Tokyo.

The dollar fell 0.5% against the Swiss franc to 0.9398, close to its lowest level in 7 months recorded yesterday, Tuesday.

The dollar index – which measures the performance of the US currency against 6 major currencies – fell 0.24% to 106.26 points, before continuing to decline.

By Admin

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