The dollar under the pressure of receding the stakes of increasing US interest rates

Economies.com
2016-07-01 11:51AM UTC

The US dollar fell during the European market on Friday against a basket of currencies, under the pressure of declining stakes of increasing US interest rates for once at least through this year, after the UK vote was in favor of separation from the European Union, and investors later in the day waiting for important data on the manufacturing industries sector to measure the improvement in the growth of the world's largest economy during the second quarter.

 

 

The dollar index is trading by the time 11:30 GMT around the level of 95.77 points from the opening level of 95.95 points, and recorded the highest level of 96.16 points and 95.76 points as the lowest level.

 

 

The index yesterday traded higher by 0.3 percent, after the resumption of the European currencies, the British pound and the euro a wave of losses against most currencies, particularly against the US dollar, after positive statements released in Washington showed the breadth of the industrial sector growth in Chicago during June by the highest pace since Jan. 2015 .

 

 

European currencies fell after Mark Carney  Britain's central bank governor said that the bank could ease monetary policy in the next few months, the European Central also mentioned it will reconsider easing the rules of buying bonds.

 

 

The US currency went down again under the pressure of the decline of the stakes of "the US centralbank" the Federal Reserve to increase interest rates for once at least through this year, these bets fell to 9 percent from 40 percent before the historical referendum in Britain, which resulted in Britain's secession from the European Union.

 

 

And investors awaits later in the day important data on the manufacturing sector to measure the improvement in the growth of the world's largest economy during the second quarter.

 

 

The final reading of the PMI industrial index for the month of June is expected the same level of the previous reading of 51.4 points, and ISM Manufacturing PMI expected the level of 51.3 points in June to read the same month of May.

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