The USD Strengthens Amidst Lower Yields - Weekly Review
Friday, 22 March 2024, 20:56
The USD's Performance and Foreign Exchanges
The USD ended the week with strong gains against major currencies.
Major Currency Gains/Losses
- USD vs EUR: +0.72%
- USD vs JPY: +1.59%
- USD vs GBP: +1.03%
- USD vs CHF: +1.46%
- USD vs CAD: +0.50%
- USD vs AUD: +0.71%
- USD vs NZD: +1.52%
The rise was notable despite declining US yields, possibly indicating global market trends.
Federal Reserve and Central Bank Actions
During the week, central banks made crucial decisions impacting currency movements.
SNB and BOJ Rate Moves
- The SNB affected rates, while the BOJ raised rates for the first time in 17 years.
Key announcements included the Fed leaving rates unchanged with GDP revisions and lowering unemployment rate forecasts for 2024.
The week concluded with mixed US stock performance and upcoming events like Core PCE and Australia CPI releases in focus.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.