The dollar held steady on Monday, as investors wagered that US inflation may have stabilized enough for the US Federal Reserve to cut rates in 2024. The dollar index, which measures the US currency against six others, was last at 104.58. The index fell 1.56% in May but is up 3% for the year. Sterling rose 0.04% to $1.2748, while the euro was a touch lower at $1.08555 ahead of the European Central Bank (ECB) policy meeting next Thursday when the central bank is seen as almost certain to cut rates. Markets are pricing in 57 basis points of cuts this year from the ECB. Japanese yen was little changed against the dollar at 157.42, within sight of last week's four-week low of 157.715. Source: Qatar News Agency
Related Articles
IMF to Reduce Members’ Borrowing Costs by $1.2 Billion Annually
The International Monetary Fund (IMF) announced its approval of measures that will reduce borrowing costs for its members by approximately $1.2 billion annually. According to the statement issued by the IMF, these new changes will take effect at the b…
Qatar’s Pavilion at Arabian Travel Market (ATM) 2024 Highlights Key Tourism Experiences
Dubai, The pavilion of the State of Qatar, represented by Qatar Tourism (QT), keeps opening its doors to visitors of the Arabian Travel Market (ATM) 2024 in Dubai, the United Arab Emirates.
The pavilion highlights the most prominent events and touri…
MOCI Organizes Meeting on Challenges Facing Technology Sector
Doha: The Ministry of Commerce and Industry (MOCI) organized a round table meeting with several companies in the technology sector, with the aim of discussing the most prominent challenges facing the sector and solutions to develop it.
Assistant Unde…