Dollar rises to 13-month high
The Peninsula
Tokyo: The US dollar rose to a fresh 13 month high on Friday, as investors assessed the outlook for the Federal Reserve s interest rate path. The d...
Tokyo: The US dollar rose to a fresh 13-month high on Friday, as investors assessed the outlook for the Federal Reserve's interest rate path.
The dollar index edged up 0.08% to 107.15 after touching its highest level since Oct. 4, 2023 at 107.18, with little data this week to dent its strength.
The dollar has appreciated around 3% so far this month on expectations that Trump's policies could reignite inflation and limit the Fed's ability to cut rates, keeping other currencies under pressure.
Sterling traded at $1.25705, last down 0.14% on the day. It earlier touched its weakest against the dollar since May 14 at $1.25655.
The euro, which makes up a hefty portion of the dollar index, slid 0.05% to $1.0469 after falling to a 13-month low of $1.0461 the previous day.
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