USD exchange rate today March 12: The dollar continues to gain momentum to regain the 99 mark when the market expects the Fed's interest rate hike policy

 At the beginning of the trading session on March 11, on the US market, the US Dollar Index (DXY) measuring the volatility of the greenback with 6 key currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0. ,63%, reaching 99.13.

The dollar bounced back to the 99 mark in the last session and also hit a five-year high against the yen, while other currencies fell after Russian President Vladimir Putin said there was a certain amount of progress in the negotiations between Moscow and Ukraine.

During a meeting with his Belarusian counterpart Alexander Lukashenko, Putin said that there had been "certain positive developments" in the negotiations with Ukraine and that negotiations continued on a daily basis. Russia's special military operation in Ukraine has caused massive volatility in commodity prices and threatened the outlook for global economic growth.

The greenback was also supported by expectations that the US Federal Reserve (Fed) will start raising interest rates at the end of its policy meeting on March 15 and 16, amid rising US inflation.

Meanwhile, the euro fell 0.69% against the dollar to $1.0912, the currency fell more than 2.5% against the dollar in March. After hitting a near two-year low on Monday. 7-3 in the context of increasing inflation worries, due to the impact of the Ukraine tension issue. The euro received some support from the European Central Bank's announcement that it would phase out stimulus measures, opening the door for a rate hike before the end of 2022.

The greenback hit a five-year high against the Japanese yen, down 1.03% at 117.32 yen while other currencies, including the AUD and NZD, all fell against the greenback. "These currencies are stabilizing again after the optimistic and positive signals from the negotiations between Russia and Ukraine, aimed at providing a global growth engine," said Juan Perez, head of trading. of Tempus Inc. said.

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