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Global and local dollar rise reasons
The dollar's price continues to rise globally and locally, supported by the increase in U.S. Treasury bond yields and expectations that the Federal Reserve will keep interest rates steady. Worldwide, the dollar achieved gains for the fourth consecutive week against the euro, despite slipping slightly after data showed lower-than-expected job growth and an increase in the unemployment rate to 4.2%. Market forecasts indicate an 86% probability that the Fed will hold interest rates steady in October, with U.S. yields remaining near their highest levels in decades. Locally, the dollar's price increased in 10 banks by between 45 piastres and 1.01 pounds over the week, reaching approximately 52.37 pounds for buying and 52.50 pounds for selling in some banks, with the upward trend continuing.
Notice: This Is an AI-Generated Summary
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