Dollar Strengthens – China’s Growth Slows Down

The U.S. dollar index rose 0.18% against the other major currencies to 94.105.

The yen rose 0.12% to 114.36 yen per dollar.

The Australian dollar fell 0.26% to 0.7404.

The New Zealand dollar rose 0.05% to 0.7067.

New Zealand’s consumer price index (CPI) rose more than expected by 4.9% year-on-year and 2.2% quarter-on-quarter. The surprise CPI jump underscores the need for the Reserve Bank of New Zealand to keep its policy of raising interest rates unchanged.

The yuan becomes stronger in foreign trade, rising 0.05% to 6.4369 per dollar.

Data from China show that Chinese GDP reached its lowest level in a year at 4.9%. Apart from the real estate crisis, industrial production in the third quarter increased by 3.1% year-on-year; retail sales rose by 4.4% year-on-year in September and the unemployment rate is 4.9%.

The pound fell 0.12% to 1.3733 pounds per dollar.

The Bank of England (BOE) has said that rising energy prices will prolong inflation and that policymakers must act if they see risks.

On the cryptocurrency side, Bitcoin remains near a record high of $64,895 and a recent price of $62,000. Bitcoin is seen as a hedge against inflation. In the U.S., eagerly awaited the IPO of the first Bitcoin ETF that will bring cash into the market.

The baht remained stable at 33.460 baht per U.S. dollar.

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