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The dollar reached its highest level in 16 months on Friday, after the US Federal Reserve maintained its interest rates unchanged and reaffirmed its stance on tightening monetary policy, prompting investors to raise rates in December .
The US currency fell sharply after the results of the mid-term elections in the United States on Tuesday, as election results would make it unlikely for further fiscal stimulus.
But the dollar has risen again and outperformed most major currencies today, thanks to the strength of the US economy and rising interest rates.
The Fed is generally expected to raise interest rates in December, its fourth increase this year.
The rebound of the dollar, fueled by trade tensions as a safe haven, pushed the yuan to about 7 yuan to the dollar and pushed the euro to $ 1.13.
In Japan, where interest rates are expected to remain very low, the yen hit a five-week low against the dollar and dropped 2.2% in the last 10 sessions.
But the Japanese currency reversed its trend on Friday, rising 0.2% to 111.86 yen per dollar.
The dollar index, which tracks the performance of the greenback versus a basket of six major counterparties, hit a one-week high of 96.89, close to the peak of 97.2 hit in 31 month, October 31st.
The euro traded at 1.1333 dollar, losing 0.2 percent after falling sharply on Thursday.
The pound sterling reached $ 1.3015 in trading, down 0.4%.
The Australian dollar was down 0.2% to $ 0.7241. The Australian dollar stumbles as the sentiment weakens against China, Australia's biggest trading partner.
Source: Reuters
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