Dollar Reaches Twenty Year high – 28 April, 2022

The greenback was firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, held up by bets on rising U.S. interest rates and doubts about growth in Europe and China. The yen was last at 130.72 per dollar after falling as low as 131.25 overnight The yen is down almost 7% in April, its worst month since Nov. 2016. The U.S. dollar index, which hit a two-decade high of 103.93 in the wake of the yen’s tumble, was last at 103.53 and up more than 5.3% through April. If sustained, that would make for its best monthly gain since May 2012. The euro , meanwhile, dropped through $1.05 for the first time in five years on Thursday and was last clinging on at $1.0511. The euro has lost 5% on the dollar in April and just over 7% on the dollar since Russia’s invasion of Ukraine on Feb. 24. The yuan has fallen to 18-month lows at 6.6400 per dollar and is on course for a record monthly drop of 4.3%. The Australian dollar hit a three-month low of $0.7055 overnight before recovering to $0.7123 in early trade on Friday.