The global dollar completed its fourth weekly rise of the year

The global dollar completed its fourth weekly rise of the year

He dollar completed its fourth weekly rise this Friday, despite today’s decline, while traders reduced their bets on how quickly the Bank of Japan could increase the interest rates and how soon will the United States Federal Reserve (Fed).

He dollar index fell 0.07% to 104.04, having gained 0.1% on Thursday, after data pointed to the resilience of the US labor market, further crushing expectations of an early rate cut by part of the Fed.

Traders have all but ruled out a cut at the next monetary policy meeting. Fed in March, down from a 65.9% chance a month ago, according to CME Group’s FedWatch tool.

Today, operators ignored the revised consumer price data in USA, which rose less than initially estimated in December.

Although the inflation core held, the mixed outlook did not change the outlook for the timing of rate cuts by the Fed.

How did the dollar fare against other currencies?

As for other currencies, the and in It barely changed at 149.32 units per dollar after trading at 149.575, its lowest level since November 27. It is worth noting that this week the yen has depreciated 0.64%, after having lost value in five of the last six weeks.

Meanwhile, the euro It rose 0.08% this Friday to $1.0785 and the pound sterling improved 0.15% to $1.2635. Both currencies have proven relatively resilient, and those responsible for the European Central Bank (ECB) and of Bank of England have bucked market bets on an early rate cut.

Finally, in terms of cryptocurrencies, he bitcoin rose 4.9% to $47,549.00, after reaching a high of $48,183.

Source: Ambito

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