2023-09-09 19:01:35
The dollar fell, Friday, but achieved the longest series of weekly gains in 9 years, supported by a set of strong data on the US economy that also made the prospects of the Federal Reserve (the US central bank) ending the cycle of raising interest rates in doubt.
The Chinese yuan fell at the end of the week to its lowest level since 2007, as it was exposed to pressure from the outflow of capital and the widening gap in returns with major economies.
The dollar index fell 0.1% to 104.93 points on Friday, but remained close to the highest level in 6 months recorded in the previous session at 105.15 points.
The index extended its gains for the eighth consecutive week, with an increase of 0.6%.
The euro witnessed losses for 8 consecutive weeks, but in the latest trading it rose 0.1% to $1.0709 following falling to its lowest level in 3 months at $1.0686, on Thursday. Data released this week showed that the US services sector unexpectedly gained momentum in August and that unemployment claims last week reached their lowest level since February.
In the Eurozone, industrial production in Germany fell slightly more than expected in July.
The pound sterling rose from its lowest level recorded in 3 months, on Thursday, and reached $1.2496 in the latest transactions, although it is still heading to incur a weekly loss of more than 0.7%.
In trading inside China, the yuan reached its lowest level since December 2007 at 7.3510 once morest the dollar. It also declined in foreign transactions and fell to its lowest level in 10 months at 7.3621 once morest the dollar.
At the end of the week, the yen settled at 147.37 once morest the dollar. The Australian dollar rose 0.2% to $0.6392, but suffered a weekly loss of 1%.
(agencies)
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