Dollar exchange rate once again losing ground relative to most world currencies. The decrease was 0.4-0.6% against previous day's close. Investors increased sales of U.S. dollars, because they fear U.S. technical default, even though the statement of the reached agreements of the executive and legislative authorities in the U.S..
At today's auction on the interbank market, the greenback fell rapidly. By 17:00 Moscow time on the European currency has strengthened against the dollar by 0.5%, to $ 1.4212. At the same time index DXY (dollar relative to the six leading currencies) decreased by 0.6%, having fallen to a mark of 74.87 points. Against the yen the dollar lost 0.4%, dropping to ¥ 78,85, which is only 0.5% above the minimum set of four last week. Lost their positions and the dollar on the Russian market. On MICEX its value again fell below $ 28 rubles. / $. By 17:00 the dollar exchange rate on MICEX was worth 27.9576 rubles., Which is 7 kopecks. below the close on Tuesday.
Investors continue to get rid of the dollar, because they fear U.S. technical default, which may occur on August 3, prior to that date the U.S. government does not agree with Congress to raise the ceiling of the national debt. "As we approach that date, are growing concerns among market participants about the government's ability to withdraw from the situation", - said Head of Trading of ING Bank, Stanislav Yarushevichyus. According to him, investors' concerns are so high that they can not calm down even the U.S. President about the "progress" on the way to break the deadlock. "The market will believe only the actual decisions, and until the action instead of words will share the expectations of default are not going anywhere," - said Mr. Yarushevichyus.
President Barack Obama has endorsed the plan of a bipartisan group of U.S. senators, who can help to accelerate negotiations on the budget deficit and increase the federal debt ceiling. The government argues that the issues will be resolved until August 2, that is, until the time when you need to fulfill debt obligations. "At the moment the market begins to feel the weakening of the state of heightened uncertainty, - said currency analyst at Bank of Tokyo-Mitsubishi UFJ Lee Hardman .- With the expectation of the global economic recovery that supports high-risk currencies."
Nevertheless, market participants believe that, until the U.S. government does not agree with Congress raising the ceiling of public debt, the dollar will remain under selling pressure. "The issue of public debt will lead to a sharp strengthening of the dollar, and until then he will go down" - summed up by Stanislav Yarushevichus.
At today's auction on the interbank market, the greenback fell rapidly. By 17:00 Moscow time on the European currency has strengthened against the dollar by 0.5%, to $ 1.4212. At the same time index DXY (dollar relative to the six leading currencies) decreased by 0.6%, having fallen to a mark of 74.87 points. Against the yen the dollar lost 0.4%, dropping to ¥ 78,85, which is only 0.5% above the minimum set of four last week. Lost their positions and the dollar on the Russian market. On MICEX its value again fell below $ 28 rubles. / $. By 17:00 the dollar exchange rate on MICEX was worth 27.9576 rubles., Which is 7 kopecks. below the close on Tuesday.
Investors continue to get rid of the dollar, because they fear U.S. technical default, which may occur on August 3, prior to that date the U.S. government does not agree with Congress to raise the ceiling of the national debt. "As we approach that date, are growing concerns among market participants about the government's ability to withdraw from the situation", - said Head of Trading of ING Bank, Stanislav Yarushevichyus. According to him, investors' concerns are so high that they can not calm down even the U.S. President about the "progress" on the way to break the deadlock. "The market will believe only the actual decisions, and until the action instead of words will share the expectations of default are not going anywhere," - said Mr. Yarushevichyus.
President Barack Obama has endorsed the plan of a bipartisan group of U.S. senators, who can help to accelerate negotiations on the budget deficit and increase the federal debt ceiling. The government argues that the issues will be resolved until August 2, that is, until the time when you need to fulfill debt obligations. "At the moment the market begins to feel the weakening of the state of heightened uncertainty, - said currency analyst at Bank of Tokyo-Mitsubishi UFJ Lee Hardman .- With the expectation of the global economic recovery that supports high-risk currencies."
Nevertheless, market participants believe that, until the U.S. government does not agree with Congress raising the ceiling of public debt, the dollar will remain under selling pressure. "The issue of public debt will lead to a sharp strengthening of the dollar, and until then he will go down" - summed up by Stanislav Yarushevichus.
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