Gaza Herald – The US dollar advanced during Asian trading on Monday, recovering from levels close to its lowest point this month. The greenback gained strength as the euro weakened under pressure from violent protests in France.
The euro dropped by 0.1 percent to trade at 1.1225 dollars. Meanwhile, the dollar index remained steady at the 101.83 level, reflecting a period of consolidation for the major currency pair.
Kieran Williams, Asia currencies manager at InTouch Capital Markets, stated that early-week disruptions are affecting the euro primarily through French bonds rather than having a direct impact on the currency itself. This assessment highlights the transmission mechanism of political instability into financial markets.
Against the Japanese yen, the dollar stabilized at 158 yen. This equilibrium followed comments from Kazuo Ueda, governor of the Bank of Japan, who indicated that core inflation is now very close to the central bank’s target rate of 2 percent. His remarks provided clarity on the monetary policy outlook.
In offshore yuan trading, the dollar held at 6.6842 yuan. This stability came ahead of the release of China’s third-quarter gross domestic product data. Market participants were positioning themselves before the official figures became available.
Analysts expect a slight acceleration in economic growth following the recording of the lowest expansion rate in over three years. The upcoming data points will be crucial for assessing whether the Chinese economy is regaining momentum after recent slowdowns.
This report was produced in the Gaza Herald newsroom.
