Weakened by the dollar



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Weakened by the dollar



In the world currency markets, the dollar weakened against the basket of currencies last week after two weeks of growth, and was traded with great caution due to uncertainty over trade negotiations between the US and China.

The dollar index, which shows the value of the US against the other six major world currencies, slipped 0.4 percent last week, to about 97.85 points.



The euro-dollar exchange rate rose 0.4 percent to $ 1.1060.

The US currency also weakened against the Japanese currency by 0.8 percent, dropping its price to 108.60 yen.

Foreign exchange markets have been wary of uncertainty over US-China trade talks last week.

Uncertainty over US-China negotiations

Washington received reports almost daily that a partial trade deal with Beijing was very close, which had a positive effect on currencies that are more sensitive to the global trade situation.

Messages from Washington have backed investors 'hope that the trade war, which has been going on for 17 months, will soon end and has slowed both economies' growth.

But as there are no details on a possible deal and the media say Beijing is seeking tariff reductions to reach an agreement on the first phase of the deal, caution has been exercised in the markets.

As a result, the value of the dollar against the basket of currencies slipped to 97.35 points on Friday morning, its lowest level in a month.

However, by the end of the day, the dollar has recovered thanks to a better-than-expected US employment report, which indicates a significant growth in the world's largest economy, which is why there is no reason to further reduce US central bank interest rates.

On Friday, it was reported that in November the number of employees in the United States increased by 266,000, significantly more than expected, with the unemployment rate falling to 3.5 percent, the lowest level since 1969.

Next week, the last session of the leaders of the US Central Bank is held this year. No changes in monetary policy are expected as the economy is growing solidly and the Fed has cut key interest rates three times this year.

Weakened by the dollar

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