The rise of the dollar amid positive signs of a slowdown in the rate of contraction of US companies

The rise of the dollar amid positive signs of a slowdown in the rate of contraction of US companies
The rise of the dollar amid positive signs of a slowdown in the rate of contraction of US companies
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Economie

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The rise of the dollar amid positive signs of a slowdown in the rate of contraction of US companies

January 24, 2023, 10:58 pm

US dollar (archive)

New York – Qena

The exchange rate of the dollar rose against the euro today, after data showed that the activity of US companies contracted in January, for the seventh month in a row, but with signs of a slowdown in the pace of deflation.

Despite the contraction in the activity of US companies, the contraction in the manufacturing and services sectors slowed down for the first time since last September, and business confidence increased with the start of the new year.

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The dollar continued its gains against the euro, but it remained near its lowest level in nine months, which it recorded in the last session, and the euro fell by about 0.17 percent at the level of $ 1.0852, not far from its highest level in nine months, which it recorded in the last session at $ 1.0927.

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The data contributed to raising the dollar close to the highest level in a week against the yen, as the dollar rose in the latest transaction 0.03 percent to 130.7 yen.

The British pound was one of the worst performing major currencies against the dollar, as it fell by 0.71 percent to the level of $ 1.2288, after a survey showed that British private sector activity declined in January at the fastest pace in two years.

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