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Dollar stands tall as upbeat U.S. data trims Fed cut bets


Friday, 29 November 2019 08:11 WIB

DOLLARCurrency Europound


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The dollar headed for its highest weekly finish against the safe-haven yen since May on Friday, as data showing the U.S. economy on a firm footing prompted investors to scale back rate-cut bets.Nerves persisted though, as other major currencies spent the week rangebound, navigating a blizzard of trade-war headlines that offered few clues as to when or how an overdue truce might be agreed between Washington and Beijing.

On Friday, the dollar was steady at 109.51 Japanese yen and if it holds there will post a 0.7% gain for the week and hit its highest weekly close since May 31. Overnight trade was light with U.S. desks closed for Thanksgiving.

The British pound has been the week's other main beneficiary, adding half a percentage point as Prime Minister Boris Johnson's Conservative Party has firmed in opinion polls ahead of the Dec. 12 election.

Sterling was steady on Friday at $1.2910, while the euro EUR= held at $1.1012.

Source : Reuters


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