The greenback begins Friday trading marginally higher, looking to snap a three-day losing streak.
The U.S. currency, as measured by the ICE Dollar Index, a measure of the buck’s strength against six trading rivals, was at 95.109, up 0.1%. Earlier in the session, the popular index traded to a two-week low.
Overnight, the People's Bank of China set the yuan mid-point at 6.9120, its weakest level since March 10, 2017. However, after the weaker fix, spot yuan moved higher when data showed China posted a record trade surplus of $34.13 billion with the U.S. in September.
The euro, the biggest contributor to the dollar index, was lower at $1.1581 versus $1.1596 late Thursday. Fortunes for the single currency remain tied to the ongoing debt saga in Italy. Late Thursday, the Italian parliament passed a new budget bill, which will next head to the government leadership for its nod.
Source : Marketwatch