The dollar reached its highest value in 20 years due to the war in Ukraine and the interest rate in the United States

Photo illustration with 100 dollar banknotes

The dollar reached a 20-year high on Wednesday Against major rival currencies as traders seek safety as Russia ramps up operations in Ukraine.

A dollar index that compares the US monetary unit to currencies such as the euro, pound and yen, It jumped to a two-decade high of 110.87 pointsAlso, as the Federal Reserve prepares for another sharp hike in US interest rates.

Sterling fell 0.21% against the dollar to settle at $1.1355, as analysts anticipate widespread declines in European stock markets.

The United Kingdom today considered Putin’s announcement “worrying” and stressed the need to take it “seriously,” according to statements to the network. Sky News British Minister of State for Foreign Affairs Gillian Keegan.

Banknotes in Euro, Hong Kong dollar, United States dollar, Japanese yen, British pound and Chinese yuan
Banknotes in Euro, Hong Kong dollar, United States dollar, Japanese yen, British pound and Chinese yuan

The price of Brent crude for delivery in November rose 2.5% this Wednesday on the London futures market to stand at $92.89, after Russian President Vladimir Putin announced a partial mobilization.

North Sea crude, a benchmark in Europe, finished the previous day at $90.59, 1.53% lower than at the end of Monday’s session.

And Putin, in a speech to the country, announced the mobilization to defend Russia’s territorial integrity, considering that the West’s goal is to “weaken, divide and destroy” his country.

The announcement also had an impact on foreign exchanges and stock markets already operating in Asia.

The increase in oil prices may worsen the energy situation due to the sharp increase in the price of gas at the global level due to the war in Ukraine.

This Tuesday, proceedings closed on the loss of Wall Street This is Tuesday A major decision on interest rates is awaited by the Federal Reserve.

The Standard & Poor’s 500 It lost 43.61 points by 1.1% to 3,856.28 points Nasdaq Composite It lost 107.87 points, or 0.9 points, to 11,427.15 points. Industry average Dow Jones It fell 306.89 points, or 0.99%, to 30,712.79 points.

(With information from EFE)

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