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Investors in the financial markets expected the US interest rate cut to be a quarter Wednesday, marking the start of a series of rate cuts and perhaps quantitative easing, but Chairman of the Board thwarted these hopes.
In the currency markets, the greenback gained against the major currencies, against the pound sterling, the euro and the yen. In early trading, the pound hit its lowest level in 30 months at $ 1.2087.
At this low price, the British pound has lost 16% of its value since the British voted in favor of the exit of the European Union more than three years ago. Speculators fear the repercussions of Britain's exit from the European Union without trade agreements or so-called "hard brix" on the future performance of the pound sterling.
Despite the damage caused by the weakness of the British pound to British consumers and British tourists, British tourism benefits British tourism, where tourists find that Britain is cheap compared to other European countries.
In a long-awaited move, the US central bank lowered interest rates for the first time since the financial crisis on Wednesday, amid increasing risk of rising import duties and slowing down of major global economies.
According to Reuters, the Fed's less hawkish tone helped the dollar recover, pushing its index, which measures the greenback's performance against a basket of currencies, to its highest level in 98 months, 98.93 on Thursday. .
The euro fell to its lowest level in two years against the greenback at $ 1.1034. During the last exchange, it fell 0.3% to 1.1037 dollars.
(New Arab)
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