The dollar steadied on Monday - EBC Daily Snapshot
2023-09-25
Summary:
The dollar steadied on Monday and rose against the yen to an almost 11-month high on Monday. The dollar on Friday touched an over six-month high.
EBC Forex Snapshot
25 Sep 2023
The dollar steadied on Monday and rose against the yen to an almost 11-month high on Monday. The dollar on Friday touched an over six-month high.
The single currency was on track to lose roughly 1.9% for the month, its steepest monthly fall since May, amid growing recession fears.
The euro zone economy is likely contract this quarter and won't return to growth anytime soon, a survey showed.
The ECB has reached the point where it needs to be wary of over-tightening and should try to avoid a hard landing of the economy, ECB policymaker Francois Villeroy de Galhau said on Monday.
| Citi (as of 11 Sep) | HSBC (as of 25 Sep) | |||
| support | resistance | support | resistance | |
| EUR/USD | 1.0688 | 1.1091 | 1.0577 | 1.0762 |
| GBP/USD | 1.2448 | 1.2800 | 1.2101 | 1.2503 |
| USD/CHF | 0.8556 | 0.8945 | 0.8890 | 0.9137 |
| AUD/USD | 0.6365 | 0.6522 | 0.6360 | 0.6516 |
| USD/CAD | 1.3387 | 1.3705 | 1.3343 | 1.3659 |
| USD/JPY | 144.54 | 148.85 | 146.68 | 149.27 |
The green numbers in the table indicate an increase in data, the red numbers indicate a decrease in data, and the black numbers indicate that the data remains unchanged.
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