The Stock markets fell in Europe on Friday, following the trend of Asia and Wall Street to close on the eve.
The dollar index, which measures the green currency’s performance against six major pairs, was down 0.1% on the day at 95.691, but was on track for a weekly gain of 0.5%, its best performance since the mid-20s. from December.
Currencies seen as riskier bets, including the Australian and New Zealand dollars, lost ground, while those seen as safe havens, such as the Japanese yen and Swiss franc, strengthened.
“US dollar strength today certainly looks more like the pattern that would be expected in a typical period of risk aversion,” currency analysts at MUFG said in a note.
Both the Australian and New Zealand dollars fell more than 0.5% against the greenback to $0.71890 and $0.67220, respectively.
Among cryptocurrencies, bitcoin was also dragged lower, falling as much as 6% to $38,250, its lowest level since August.
The Swiss franc strengthened as much as 0.6% to 0.91170 francs per dollar, while the yen gained as much as 0.4% to 113.625 yen per dollar. Both lost some momentum in later trading and were up 0.4% and 0.2%, respectively.
The dollar fell on Friday due to a drop in yields on US Treasury bonds after a recent strong rally, fueled by expectations that the Federal Reserve will tighten monetary policy at a faster pace than anticipated.
Source From: Ambito
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