© Reuters. US dollar and euro coins in an illustrative photo taken on July 17, 2022. Photo: Dado Rovic/Reuters.
SYDNEY (Reuters) – It headed lower for the fourth consecutive session against Monday.
The euro rose to $1.0870, close to its highest level in nine months at $1.08875.
He was helped in this by remarks by European Central Bank Governing Council member Claes Nott, who said interest rates would rise by 50 basis points in both February and March and would continue to rise in the following months.
Nott is considered a hawk among policy makers and the comment was seen as a reaction against recent reports that the ECB will retreat to a quarter point from March.
It rose to $1.2410, close to the highest level it reached last week at $1.2435.
The dollar fell slightly against a basket of currencies to 101.890, a slight difference from the lowest level it reached in eight months at 101.510.
The dollar settled at 129.40 yen after the extreme fluctuations last week between 127.22 and 131.58 yen.
(Prepared by Ahmed Sobhi for the Arabic Bulletin)
