ALBAWABA - The US dollar experienced a "surprising" retreat on Monday, November 13th, after reaching its highest level in a year against the Japanese yen, coming close to the key level of 152 yen.
The dollar sharply dropped to 151.20 minutes after the execution deadline at 10 a.m. Eastern Time, amid a wave of trading amounting to $3.45 billion in options contracts set to expire this week.
Analysts noted that there are additional options contracts worth $2.2 billion "scheduled to expire on Wednesday," according to Reuters.
As for the Dollar Index, which measures the performance of the US currency against six other currencies, it recorded a 0.09% decline to 105.64.
Meanwhile, the euro rose by 0.15% to $1.0697, with the British pound increasing by 0.44% following the recent cabinet reshuffle in the United Kingdom conducted by Prime Minister Rishi Sunak. The British currency reached $1.2279 and also climbed approximately 0.27% against the euro, reaching around 87.14 pence.
