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Dollar Softens, Euro and Pound Regained Some Ground

Started by Epoch-Times-Bot, Nov 04, 2022, 08:45 AM

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Epoch-Times-Bot

Nov 04, 2022, 08:45 AM
Dollar Softens, Euro and Pound Regained Some Ground

SINGAPORE/LONDON—The euro and pound regained some ground on Friday but were still set for their biggest weekly losses since September.
The euro was last up 0.52 percent at $0.9801, while sterling was up 0.4 percent at $1.1228, also having pared gains from the Asian session.
Nonetheless, the European common currency was still set for a 1.9 percent drop on the week and sterling a 3.4 percent decline, for both the largest weekly fall since the third week of September, when Britain’s then finance minister Kwasi Kwarteng sent markets spinning with a now withdrawn set of fiscal policies.
The dollar strengthened across the board this week after Federal Reserve chair Jerome Powell on Wednesday said the central bank could continue to increase interest rates if inflation doesn’t slow, causing markets to price in a higher peak for U.S. rates....

Source: Dollar Softens, Euro and Pound Regained Some Ground

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Aug 12, 2024, 04:16 AM
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