Safe-haven currencies lead earnings today in the currency market
Today, Monday, four of the major currencies took profits as the forex market opened for this week, with strong gains against other major currencies. It made reasonable profits, and the profits of the four currencies mentioned above ranged between 1.10% and 4.82% on average, and the following is a more detailed explanation of the reasons for the high gains of these currencies in trading. today:
Best Swiss franc earner
Despite the absence of economic data affecting the Swiss franc's trade against other major currencies, the decline in risk appetite in the foreign exchange markets is supporting the strong demand as it is one of the safe-haven currencies. to which investors are turning in similar economic conditions, especially with the high injury rate of the Omicron mutator around the world, which could threaten the global economic recovery in the period ahead.
On that basis, the Swiss Franc made solid gains against all other major currencies today as it rose until its earnings hit 4.82%.
The Japanese yen gains a small difference from the first place
The Japanese yen came directly after the Swiss franc in the list of today's gaining currencies, to share with it the strong profits as it is also one of the most important safe haven currencies which has increased demand with the weak appetite for investor risk Therefore, the Japanese yen made strong profits against the rest of the major currencies, not exceeding the difference between it and the profits of its Swiss counterpart, a lot, amounting to around 4.08%, about.
The single European currency is the third winner
Today, the euro made big gains, to join the list of winning currencies, after a member of the board of directors of the European Central Bank, "François Villeroy de Galhau" confirmed today, Monday, that the European Central Bank is fully prepared to do what is necessary to bring inflation rates below the prescribed rate of 2% as well. Villeroy added that the European Central Bank needs a gradual normalization of monetary policy in line with the development of the current situation, as reported by the Reuters news agency.
It is reported that the Governor of the European Central Bank, "Christine Lagarde" previously said that the current level of inflation is at the top of the curve, and will eventually tend to fall, and it will decline during 2022, and that so far it is not known how quickly Omicron will spread in the Eurozone, and that the economic impact will depend on the measures taken to counter the spread of the virus.
As a result, the Euro's gains have risen sharply today against other major currencies, reaching around 3.66%.
The US dollar is at the bottom of the list of winners
The US Dollar rose sharply, driven by the rise in the US government bond total yield, with the US bond yield rising a total of 0.44% to around 25.26, which was positively reflected in the exchanges of the US dollar against other currencies.
In addition to expectations for the US Federal Reserve meeting next Wednesday at 9:00 p.m. GMT, which foresees that the Fed will keep the interest rate unchanged, but the focus will be on the statement of interest and the press conference of the US Federal Reserve Jerome Powell as he is expected to hint at an interest rate hike. interest soon, especially at the next meeting in March, coinciding with the high inflation, which has become a huge burden for the citizens, and therefore the next decisions of the Fed will have a very strong impact on the movements of the dollar and of all currencies this week.
As a result, these expectations have boosted demand for the US dollar against other major currencies, and it has gained around 1.10% today.
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| Safe-haven currencies lead earnings today in the currency market |
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