During today’s trading, the dollar is moderately declining against the euro and rising against the Japanese yen.

The ICE index, which shows the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), is up 0.05% in morning trading. The WSJ Dollar indicator, which tracks the dollar against 16 currencies, loses 0.15%.

On the eve of the first indicator rose to the maximum for almost 20 years amid concerns about recession in the global economy and expectations of a more aggressive pace of rate hikes by the U.S. Federal Reserve System (Fed), writes Trading Economics.

The euro-dollar exchange rate was up 0.29% at $1.0439 as of 9:01 Moscow time, compared with $1.0409 at market close on Monday.

Meanwhile, the single European currency is near its lowest level in four weeks at $1.04.

The Japanese yen paired with the U.S. currency was trading at 134.54 yen per dollar at the same time versus 134.42 yen at the close of trading the previous day, with the yen losing 0.1 percent.

The yen’s decline in value is adding to worries about the fragile state of the Japanese economy, Trading Economics wrote. The yen is at its lowest level against the dollar since 1998.

The Bank of Japan is expected to maintain an extremely loose monetary policy despite the rapid pace of weakening of the national currency.

The value of the British pound against the dollar by 9:01 Moscow time rose 0.4% to $1.2196 from $1.2134.