The dollar hit near a two-week high today (Friday) and is on course for its strongest weekly performance in November, after investors sent stocks lower on concerns about spending on artificial intelligence, while the yen strengthened ahead of Japan’s national election scheduled for next Sunday.
The dollar index, which measures the performance of the U.S. currency against six other currencies, reached 97.961, hovering near its highest since Jan. 23. The index is expected to rise 1% this week, the biggest gain on record.
Since mid-November, the yen has appreciated to 156.74 yen.
The price of the euro reached $1.1784 yesterday (Thursday) after the European Central Bank left interest rates unchanged as expected, reducing the impact of dollar movements on future decisions.
Sterling fell sharply, stabilizing at $1.3520 after falling about 1% in the previous session.
The dollar hit near a two-week high today (Friday), on track for its strongest weekly performance in November, as a drop in stocks due to concerns related to spending on artificial intelligence heightened investor anxiety and the yen strengthened ahead of Japan’s national election scheduled for this Sunday.
The dollar index, which measures the performance of the U.S. currency against six other currencies, reached 97.961, hovering near its highest since Jan. 23. The index is expected to rise 1% this week, its biggest gain yet.
Since mid-November, the yen has appreciated to 156.74 yen.
The euro hit $1.1784 yesterday (Thursday) after the European Central Bank left interest rates unchanged as expected and downplayed the impact of dollar movements on future decisions.
Sterling experienced a sharp decline, settling at $1.3520 after falling around 1% in the previous session.
