The pound hit a five-month low in world markets

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(Gujarat News Office) MUMBAI: The dollar index was under slight pressure against various major currencies in global currency markets today. However, amid a look at the European Central Bank (ECB) meeting, the euro has also retreated in the world market, while the dollar has retreated in the world market, world market analysts said. The Mumbai currency market was closed today amid a bank holiday.

The euro fell to a three-month low of ૧ 1.115 against the dollar in the previous session. Meanwhile, the Australian dollar and the New Zealand dollar were trading at slightly higher prices from the bottom today. The reaction was on a slow recovery after the British pound fell to a five-month low in world markets.

Against the US dollar, the Canadian dollar rose 0.50 per cent on falling global markets. However, prices are still hovering below the 200-day moving average, experts said. With inflation in the US likely to push up interest rates sooner rather than later, the US dollar has risen sharply in the global market and touched a high of 7, with global market players keeping an eye on when the Federal Reserve will reduce bond buying.

The global dollar index fell slightly from a high of 6.5 to 7.5. As of mid-June, the index has risen about 2.50 per cent. The highs were recorded in March at 6.5 to 7.5. And this time the market is watching to see if this peak is crossed. Japan's currency, the yen, recently saw safe haven buying.

The British pound fell to a five-month low of ૩૫૭૬ 1.71 and traded at ૩૬૩ 1.31. The Australian dollar fell to 0.600 from 0.315. While the New Zealand dollar fell to ૬૮૮૨ 0.6 and was quoted at 0.215. The Canadian dollar was trading at ૨૬૮૭ 1.5.

The European Central Bank is scheduled to meet on Thursday. The US dollar rose sharply today after European markets opened in world markets. The dollar index was late trading at 6.15, a three-and-a-half-month high. This led to renewed pressure on the Australian dollar against the Australian and New Zealand dollars. New cases of corona have arisen in Australia. The pound also fell again.


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