The assumption that the Federal Reserve will raise interest rates significantly has helped the dollar cohesion reach a 32-year high versus the yen and rise from a drop point that is the lowest in two weeks against a basket of the main rival currencies.
At 1100 GMT, the sterling pound dropped 0. 57 percent to 1. 12570 for the dollar as data revealed that consumer inflation in Britain rose to 10.
In September, it grew by more than anticipated and returned to the greatest level in 40 years that he had attained in July, or 1 percent on an annual basis.
To reach 149. 61 yen for the first time since August 1990, the dollar increased by 0.2%.
As for the dollar index, which measures the performance of the US currency against a basket of six major currencies, it rose 0. 7 percent to 112. 74 after it fell to the lowest level since the sixth of October, recording 111. 76 yesterday.
The euro dropped 0.8% to $ 0. 97800 from a high of $ 0. 98755 yesterday, which was the currency’s highest level since the sixth of October.
The New Zealand currency continued to trade at a high level as it gained by 2% this week following the release of yesterday, Tuesday, of consumers’ pricing data, which raised hopes that the central bank will continue to tighten monetary policy.
In the most recent session, the New Zealand dollar fell 0. 16 percent to trade at 0.
56770 USD is close to the greatest level it has reached in two weeks, which was 0. 5719 USD on Tuesday.
Due to the biggest inflation in 40 years, the value of the pound has been decreasing.
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