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The recent dip in the U.S. dollar is part of a broader trend observed in recent weeks. Economic factors such as shifts in interest rates, inflation concerns, and geopolitical tensions have contributed to the dollar's volatility. Over the past month, the U.S. dollar has seen varying performance against major Asian currencies, including the Taiwan dollar, as investors respond to global economic developments.
On Wednesday, the Indian rupee appreciated against the US dollar, marking a significant shift in its recent trajectory.
The currency's rally also reflects broader global financial dynamics. As central banks around the world, including the US Federal Reserve, adjust their policies in response to inflationary pressures and economic uncertainty, currencies like the Singapore dollar have benefited from shifts in capital flows and changes in interest rates.
Qatar National Bank (QNB) predicts that the U.S. Federal Reserve will continue cutting interest rates due to declining inflation.
Against the dollar, the yen climbed 0.7% to ¥152.81, reaching its highest point since May at ¥152.23 earlier in the day.