US dollar steady | US dollar remains steady

The US dollar remained steady against a basket of major currencies after conflicting US economic data, leaving it on course for its largest weekly rise in 2017 amid a rise in expectations for inflation and US interest rate hikes on Friday.

Federal Reserve Chair Janet Yellen said earlier this week that the Central bank planned to stay on its current rate hike path, which suggested to investors that it would raise rates in December, with further increases to follow in 2018.

The dollar index, the trade-weighted basket of the US dollar against its rivals, was flat at 93.03. It rose 0.9% for the week, its best weekly performance since September, and was up 0.35% for the month.

The euro rose 0.31% to USD 1.1821, having earlier hit a three-day high against the dollar. The dollar was 0.14% higher against the Japanese yen at 112.49 yen.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

two + 11 =