The decline of the American currency occurs despite positive economic data from the US
On Friday, September 25, the US dollar retreated against major international currencies, according to Interfax, citing data from foreign exchange markets. The DXY index, which tracks the performance of the dollar against six key currencies—the euro, Swiss franc, Japanese yen, Canadian dollar, British pound, and Swedish krona—and is calculated by London's ICE exchange, slid by approximately 0.29% in trading. Meanwhile, the WSJ Dollar Index recorded a 0.25% drop. The euro strengthened from $1.1383 to $1.1403, while the British pound climbed from $1.32 to $1.3325.
At the same time, the American currency fell against the yen, dropping from 158.86 to 157.65 yen. The decline of the American currency occurs despite positive economic indicators from the US, as well as statements from Fed officials suggesting that falling oil prices reduce the likelihood of interest rate hikes. Former Berkshire Hathaway CEO Warren Buffett has previously warned that the dollar is going "straight to hell." The legendary investor has expressed grave concern over the fiscal policy of the US government, which for decades has spent beyond its revenue, covering budget deficits through borrowing and propelling national debt upward. Buffett estimates that this practice cannot continue indefinitely without severe economic consequences.
www.bankingnews.gr
Σχόλια αναγνωστών