The US dollar rose to its highest levels this year with the increase in US Treasury yields, due to investors' fear that the Federal Reserve will begin withdrawing its support for policies coinciding with the slowdown in global growth.
According to Arab Net, the euro fell to $1.1657, its lowest since November 2020, and the dollar index rose to an 11-month high of 93.891.
The yen, which is highly sensitive to US yields, as higher interest rates may attract inflows from Japan, touched an 18-month low of 111,685 yen to the dollar before rebounding Slightly to 111.47 yen to the dollar.
The yen showed little reaction to former Japanese Foreign Minister Fumio Kishida's victory in a leadership vote for the ruling Liberal Democratic Party, effectively guaranteeing him to succeed incumbent Prime Minister Yoshihide. Suga in a matter of days.
The pound sterling extended its losses after being affected yesterday by concerns about the economic impact of gas shortages and crowding for fuel, hitting its lowest level since January at $1.3505.< /p>
On the other hand, energy prices are rising and concerns are growing about the growth outlook in China, which is at risk from the collapse of the Evergrande real estate company and from blackouts affecting production.
China's yuan was resilient against the dollar but fell on Wednesday after Japan's pension fund said it would not buy Chinese government bonds even after they were included in a major index.
