Research & Analysis

Moroccan banks do not to subscribe to BAM's currency buyback operations for the second week in a row, following calls for tenders on the interbank foreign exchange market.

The dollar appreciates against a basket of reference currency carried by its status of safe haven in a context of strong risk aversion.

The dollar recovers its two-week losses. The euro fell again and posted a weekly change of -0.56% to 1.1814.

The euro crosses the $ 1.18 threshold, i.e. a weekly performance of + 0.72% at 1.1880.

The euro is gaining ground against the dollar this week, appreciating 0.83% to 1.1795. The greenback was penalized by a lower than expected PMI index in the United States.

Euro strengthens regains relative to the US dollar. The Euro posted a positive weekly performance against the Dollar, i.e. + 0.30% to 1.1797.

At the end of this week, the euro fell against the dollar by -1.05% compared to last week at 1.176. The EUR/ USD pair thus reached its lowest since the beginning of April 2021.

The dollar traded lower against its main counterparts in connection with the latest announcements from the Fed at its last monetary policy meeting. EUR/USD hit its highest since July of 1.189 vs. 1.177 a week ago.

The European currency remains under pressure this week and continues its decline against the dollar; i.e. -0.30%, from 1.181 to 1.177.