And received Dollar Supporting the demand for safe havens with investors’ assessment of the widespread conflict in The Middle East And its repercussions on the global economy.
The dollar index, which measures the US currency against six major currencies, recorded 101.91 in the latest trading, a level not far from its highest level in six weeks at 102.09, which it touched yesterday, Thursday. The index rose over the course of the week by about 1.5 percent, its strongest performance since April.
The euro stabilized at $1.102925 after falling in the past five consecutive sessions.
The pound sterling rose 0.2 percent after Hugh Bell, chief economist at the Bank of England, said that the British central bank should gradually reduce interest rates, the day after the pound sterling fell by 1 percent after Reuters quoted the bank’s governor, Andrew Bailey, as saying that the Bank of England may reduce… Interest rates at a high rate.
Today, Friday, the Australian dollar reached $1.3127, which is close to its lowest level in three weeks at $1.3093, which it touched yesterday, Thursday.
The yen rose 0.4 percent to 146.34 against the dollar, recovering from some of the losses it incurred during the week, although it remained near the lowest level in more than six weeks at 147.25 yen to the dollar, which it recorded the previous day.
