And he benefited Dollar Market expectations are that the Trump administration’s policies, including tariffs and tax cuts, may increase inflation, leaving less room for the US central bank to cut rates.
The dollar is heading towards achieving weekly gains against the Japanese currency, after it traded above 156 yen this week for the first time since July. In its latest transactions, it recorded a decline of 0.9 percent to 154.94 yen.
The euro is also heading towards incurring its second weekly loss in a row after falling to its lowest levels since October 2023. It settled at $1.053050.
The pound sterling is heading for its largest weekly loss since January 2023, at two percent, and fell in its most recent transactions to $1.26290.
The dollar is hovering near the highest level in a year against a basket of currencies at 106.81 and is on track to achieve a weekly gain of 1.73 percent in what will be its best performance since September. It decreased in recent trading by 0.13 percent to 106.74.
Regarding cryptocurrencies, Bitcoin traded just below $90,000, with some investors taking profits after an outstanding performance. Bitcoin fell 0.25 percent to $88,091, and Ethereum fell 2.99 percent to $3,025.61.
