Daily News | Dollar is the main attraction

For nearly three weeks, the New Zealand dollar has been declining in value. It fell after the Reserve Bank engaged in an attempt to get the housing market under control, and is currently at $0.7020. On top of that, the Australian dollar fell only minutes after the central bank meeting which left the door open for a move in August. Mainly thanks to a pull-back in oil prices, the currency is now at $0.7504.

In other news, the British economy is focusing on the inflation data for June. The forecasts predict an annual rise of 0.4 percent, and 0.2 percent inflation in June. If that happens, and the figures end up below the prognosis, it will definitely weaken the pound, which has already fallen by 0.4 percent and is now at $1.3211. On the other hand, after a period of rising, the American dollar hit a high of 106.33 yen, as opposed to the 8th of July low, when it was 99.99 yen. After that, it fell back a bit, but just by 0.3 percent – to 105.90 yen. Because of this, there has been talk of a 28th – 29th of July Bank of Japan meeting and new efforts being undertaken to boost the economy.

The European Central Bank is holding a regular meeting on Thursday, and no larger changes are to be expected. However, it is expected of the Eurozone countries to try and strengthen their currency after Brexit. The euro is stable for now against the dollar at $1.1074.

Daily News | Get a hold of the situation

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Author: Max Rothstein

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