U.S. Dollar Advances; Pound Weakens As European Stocks Fall On Soaring Oil Prices
07 Marzo 2022 - 9:20AM
RTTF2
The U.S. dollar appreciated against its major counterparts in
the European session on Monday, while the pound dropped, as
European stock markets fell on surging oil prices amid concerns
over the prospect of a ban on Russian oil imports into the U.S. and
the Europe.
In a letter to lawmakers on Sunday, House Speaker Nancy Pelosi
stated that the chamber is exploring a bill that would ban the
import of oil and energy products from Russia amid intensified
fighting in Ukraine.
Secretary of State Antony Blinken said on Sunday that the U.S.
is discussing with its allies in Europe to consider the prospect of
banning the import of Russian oil in a coordinated manner.
Russian forces intensified attacks on Ukraine, with Vladimir
Putin confirming that he would not cease fighting until Kyiv
surrenders or his demands are met.
Ukrainian President Volodymyr Zelensky blamed Russia for killing
civilians deliberately in the shelling of Ukrainian territory.
The greenback strengthened to a 1-week high of 0.9258 against
the franc, from a low of 0.9162 seen in the Asian session. On the
upside, 0.94 is possibly seen as the next resistance level.
Reversing from its early lows of 1.0929 against the euro and
1.3238 against the pound, the greenback moved up to near a 2-year
high of 1.0806 and more than a 1-year high of 1.3141, respectively.
The next possible resistance for the greenback is seen around 1.06
against the euro and 1.29 against the pound.
The greenback was up against the yen, at 115.18. The greenback
is seen finding resistance around the 118.00 level.
In contrast, the greenback held steady against the loonie, after
falling to 1.2685 around 2 am ET. The pair had closed Friday's
deals at 1.2726.
The greenback was steady against the aussie and the kiwi, after
having dropped to near a 4-month low of 0.7441 and 3-1/2-month low
of 0.6926, respectively in the previous session. The greenback was
trading at 0.7374 against the aussie and 0.6860 against the kiwi at
last week's close.
The pound reversed from an early high of 152.23 against the yen,
touching a 2-1/2-month low of 151.18. Next key support for the
currency is seen around the 149.00 level.
The pound fell to 0.8271 against the euro, off its Asian
session's 5-1/2-year high of 0.8203. Should the currency extends
decline, 0.84 is possibly seen as its next support level.
The pound, however, recovered to 1.2211 against the franc, from
a fresh 3-month low of 1.2115 hit in the Asian session. The
currency is likely to find resistance around the 1.24 level.
Looking ahead, U.S. consumer credit for January will be featured
in the New York session.
Grafico Cross US Dollar vs CAD (FX:USDCAD)
Da Mar 2024 a Apr 2024
Grafico Cross US Dollar vs CAD (FX:USDCAD)
Da Apr 2023 a Apr 2024
