UAH stops two day decline

UAH stops two day decline



20 березня 2015 года
ICU

After declining 7% in total over the past two days, the hryvnia took a pause yesterday and moved up by just 0.32% yesterday, possibly in reaction to the volatile reaction that the market had the US Fed's news release two evenings before that caused the US dollar to plunge. The US dollar recovered some of its losses as the DXY index was up 0.72% yesterday versus a 1.04% drop on Wednesday. Depending on how global FX markets digest the recent Fed policy announcement to raise rates that could be increased in June or September, FX markets are likely to calm down after the US dollar's appreciation that ran for nine months through this March. Although this reprieve could prevent severe runs on the hryvnia, ongoing high inflation (above 30% YoY) should remain a substantial drag on the currency's value.

Источник: ICU

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