The dollar is heading towards the largest weekly loss of 0.95%, the largest decline, since the end of last May, despite recording a daily rise.
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The dollar is on its way to achieve weekly losses
The value of the dollar rose strongly, today, Friday, but it still incurred its largest weekly loss since the end of a month May/Last May, following weak US economic data.
The value of the euro fell, following climbing to its highest level in more than two weeks, on Thursday, when the European Central Bank raised lending costs in the first rate hike since 2011.
The dollar index, which measures the performance of the US currency once morest 6 major currencies, jumped 0.35% at a rate of 106.98, following a decline of 0.36%, on Thursday.
But on a weekly level, it remained down by 0.95%, which is the largest decline, since 29 May /May, and the first weekly decline in 4 weeks.
Also, the euro fell by 0.44% to $1.0187, retreating further from the $1.0279 level yesterday, Thursday, following a larger-than-expected rate hike by the European Central Bank.
The Japanese yen headed for its first weekly rise since the end of a month May/last May.
The dollar also increased by 0.43% to 137.925 yen, following falling 0.67%, Thursday evening, moving further away from a 24-year high of 139.38 yen, which it reached, last week.
As for the British pound, it fell by 0.35% to $1.1962, to trim its gains during the week to 0.8%, but it remains at its highest level since the end of a month. May/last May.
The Australian dollar fell 0.47% to $0.69035, and rose at a weekly level of 1.63%, its highest level in 20 years. May/last May.
