The dollar exchange rate shows a moderate decline in the pair with the euro and the pound, weakly changing to the yen.

Calculated by ICE index, showing the dynamics of the dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), decreases during morning trading by 0.29%. The broader WSJ Dollar Index is losing 0.06%.

The euro-dollar exchange rate is up 0.06% to $1.0517 as of 8:55 Moscow time, compared to $1.0511 at Monday’s market close.

The Japanese yen paired with the U.S. currency is stable and trades at 135.04 yen per dollar against 135.07 yen the day before.

The value of the British pound against the dollar rose 0.07% to $1.2261 from $1.2253. According to analysts at Rabobank, the pound exchange rate could fall below $1.20 as the dollar supports demand for defensive assets amid recession risks.

“If the market fears risks of recession in the US, it should buy dollars rather than sell them,” said HSBC analyst Daragh Maher. – This opinion is based on historical data on dollar dynamics during the downward phase of economic cycles in the U.S.”.