Towards the end of the week, the US dollar began to show signs of weakening as market analysts had expected.
This follows the aggressive interest rate cuts that the Federal Reserve (Fed) chose at the FOMC meeting early Thursday morning yesterday.
Even after the end of the meeting with Fed Chairman Jerome Powell, the US dollar strengthened again, but analysts see a negative picture for the US dollar for its long-term movement.
The US dollar moved weakly accompanied by indicators that can be observed by investors such as the fall of the dollar index (DXY) to the lowest level in more than 1 year reaching below the level of 100.00 points yesterday.
However, the yield on the 10-year US (US) treasury showed a slight increase, signaling that the weakening of the US dollar is likely to remain in a limited situation.
Also limiting further declines for the US dollar was the US jobless claims data for last week which came in lower than forecast.
Among other focuses in the New York session yesterday was the effect of movement on the Pound Sterling currency following the decision of the Bank of England's policy meeting.
The Bank of England (BOE) as expected kept interest rates unchanged at 5.00% and signaled to be careful not to lower interest rates too quickly and too much.
The pound jumped following the initial reaction to the meeting's decision, recording the latest highest level since March 2022 before retreating slightly.
The focus at the end of this week is on the results of the Bank of Japan (BOJ) policy meeting which is expected to keep interest rates unchanged, and will influence the movement of the Yen currency.
