According to The Iranian Students News Agency (ISNA), The dollar has risen sharply against competitors in recent days, and some traders are now pulling out some of their profits. Given that both the International Monetary Fund and the World Bank have announced good economic growth in the United States this year and next, the greenback will have a strong position, but China's better economic performance will draw traders to invest in the yuan. Has also attracted and the dollar is quite far from the exchange rate above seven-yuan last year.
As demand for dollar-denominated bonds rises, US Treasury yields on two-year bonds hit a 18-month high. The growing popularity of dollar bonds has hurt the Japanese yen, which has always been one of the safest options in the foreign exchange market. The yen has lost about 5 percent of its value against the dollar over the past three weeks, despite cross-sectional increases, and a Deutsche Bank poll shows that the dollar rally will continue.
According to The Iranian Students News Agency (ISNA), A group of American economists warned in a joint letter that the continuing decline in consumer confidence in the country's economic conditions would lead to a significant slowdown in economic growth due to the reduction of new capital inflows. In the foreign exchange market, traders are still hoping that the government and Congress will reach an agreement on raising the government debt ceiling to prevent the government from closing. Concerns about government debt have risen in recent months among US economists.
The World Bank said in a new report on the global economic outlook that the Covid-19 epidemic remains the main common risk to the global economy, and as a result the prevalence of new strains is expected to be lower than previously thought. Meanwhile, China's economic growth will reach 5.4 percent next year, which is a significant decrease compared to the projected growth of 8.5 percent this year. China's economy ended the previous year with 2.3 percent growth.