The retreat of the dollar in the world market/ the worst monthly performance of the dollar in the last 12 years

According to the correspondent of Fars News Agency, quoted by Reuters, in today’s transactions of the global currency market, we saw the retreat of the dollar against the basket of reference currencies.

This happened while Jerome Powell, the head of the US central bank, is going to give a speech, and on the other hand, the market is optimistic about the lifting of the corona virus restrictions in China. The dollar is expected to record its worst monthly performance in the last 12 years in November.

For the first time since June 2021, the inflation rate in the euro area has also decreased, although the inflation figure in the euro area is still 5 times the inflation target of the Central Bank of the European Union, but still, after about two years of absolute growth, the inflation rate has decreased slightly. The finding is promising for the European market.

In the last trades of the global currency market, the value of the euro rose 0.4 percent against the euro and reached $1.0366. The euro was down 0.1 percent against the British pound to 86 pence. The dollar value index, which shows the performance of this currency against a basket of 6 reference currencies, decreased by 0.37% today and reached 106.48 units.

According to Refinitiv Institute, the value of the dollar fell 4.3 percent in November, which is estimated to be the worst monthly performance since 2020.

end of message