Dollar reaches 3-month high, yet rally may be ending — Reuters
Photo: The dollar has reached a three-month high, but there are signs of a downward trend (Getty Images)
The dollar reached a three-month high today, November 3. However, a number of factors point to a possible decline in the exchange rate in the coming weeks, according to Reuters.
Last week, the US Federal Reserve cut interest rates by 25 basis points, but Fed Chairman Jerome Powell hinted that this could be the central bank's last cut this year.
On Friday, a number of Fed bank presidents expressed their dissatisfaction with the decision to ease policy, and traders now estimate a 68% probability of a 25 basis point cut in December, considering such a move likely.
Meanwhile, the euro fell 0.16% to $1.1513, its lowest level in three months, and the pound sterling fell 0.4% to $1.3118.
As a result, the dollar index, which measures the currency against a basket of six other major currencies, rose 0.16% to 99.89, its highest level since August 1.
Dollar exchange rate in Ukraine
The dollar exchange rate at exchange offices in Ukraine rose by 5 kopecks on November 3. The euro, in turn, fell in price. The decline in the single European currency was 7 kopecks.
As of the morning of November 3, the average selling rate of the dollar rose by 5 kopecks compared to October 31 and stands at 42.19 hryvnia, while the euro fell by 7 kopecks to 48.89 hryvnia.
At exchange offices, the dollar is bought at an average of 41.61 hryvnia (+0.02), and the euro at 48.22 hryvnia (-0.06). At the same time, the National Bank of Ukraine lowered the dollar exchange rate on November 3 compared to October 31 by 8 kopecks to 41.8924, while the euro exchange rate fell by 11 kopecks to 48.4088 hryvnia.
According to analysts' forecasts, a moderate growth of the dollar and euro is expected in Ukraine in November-December.
