The dollar settled near its highest level in ten months on Friday as markets headed towards the end of the third quarter of the year, giving the yen a little more space at the end of the week, amid fears of intervention.
The euro was largely consolidated after an overnight rebound but is still not far from the January low of $1.0482, which if broken would be its lowest since December.
The dollar index, which measures the currency’s performance against six other major currencies, was largely stable in morning trading in Asia, heading for its eleventh consecutive weekly gain, after falling to 106.020 overnight.
The dollar rose amid expectations that the US economy will remain more resilient in the face of high interest rates compared to other economies, after the Federal Reserve indicated last week that it may raise interest rates further and is likely to keep them high for a longer period.
2023-09-29 11:04:00
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