New data released on Friday showed euro zone inflation hit another record high in June, while other statistics showed the bloc’s manufacturing output fell for the first time in two years.
The dollar index, which compares the greenback to a basket of six major currencies, is headed for a weekly gain of almost 1%, and was last up 0.3% at 105,060.
“The second half of the year has started risk-off, with equities and commodities down, so the dollar is stronger across the board,” said Kenneth Broux, FX Strategist at Société Générale in London. “The Federal Reserve is committed to reining in inflation, but can it pull off a soft landing?”
The most risk-sensitive currencies fell across the board. The Australian and New Zealand dollars fell more than 1%, with the former tumbling as much as 1.6% to $0.67900, its lowest since June 2020.
Sterling was down more than 1% at $1.20460, while the euro was down as much as 0.5% at $1.04330, and was later down 0.4% at $1.04465. .
The yen gained as much as 0.75%, pulling away from a mid-week low of 137, its lowest level in 24 years. In its last price, it gained 0.4%, at 135.235 units per dollar.
Source: Ambito
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