New York (awp/afp) – The dollar fell against most major currencies on Thursday, showing increasingly clear signs of exhaustion, before the publication of an important report on American employment on Friday.
Around 9:00 p.m. GMT, the Dollar Index, which compares the greenback to a basket of six currencies, dropped 0.55%.
The “greenback”, nickname of the currency of the United States, fell by 0.69% against the single currency, to 1.0585 dollars per euro, despite the political crisis that France has been experiencing since the fall of the government. , Wednesday.
For Brad Bechtel, of Jefferies, the euro had already reached, before this, “a peak of negativity” and could not retreat much further.
“Let us remember everything that has been thrown at the head of the euro in recent weeks, with Germany, France”, both in need of political stability, and “the noise around customs duties” that could impose the future Trump administration, explained the analyst.
The dollar was also weakened by the latest indicators, which depicted an American economy that was still vigorous but whose temperature was falling, which could push the American central bank (Fed) to further reduce its key rate at the end of its meeting of the December 17 and 18.
Lower rates would deprive the American currency of some of the support it previously enjoyed against other currencies whose central banks have opted for more proactive monetary easing.
The employment report, expected Friday, should offer the Fed one of the last clues before its meeting, with the CPI consumer price barometer on Wednesday.
In addition, “we are entering a period”, the end of the year, “which is traditionally bad for the dollar”, underlines Brad Bechtel.
However, this could only be a temporary consolidation, with Wells Fargo analysts expecting to see the “buck”, another nickname for the American currency, record further gains next year as the country comes to power. of Donald Trump.
Cours de jeudi Cours de mercredi 21H00 GMT 22H00 GMT EUR/USD 1,0585 1,0511 EUR/JPY 158,85 158,29 EUR/CHF 0,9299 0,9293 EUR/GBP 0,8301 0,8275 USD/JPY 150,09 150,59 USD/CHF 0,8785 0,8841 GBP/USD 1,2751 1,2701
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