The dollar held firm on Thursday following its sharpest rally since early June as traders looked ahead to speeches from key Federal Reserve policy makers later in the day for clues on the pace of interest rate cuts. The US currency rebounded strongly overnight from a more than one-year low to the euro and 2 1/2-year trough versus sterling. The dollar index, which measures the currency against the euro, sterling, yen and three other major peers, eased 0.10% to 100.84. The euro was little changed at $1.1143, after pulling back sharply from $1.1214, a high not seen since July of last year. Sterling was flat at $1.33425. The yen hit a three-week low of 145.04 per dollar and last fetched 144.77. The Australian dollar added 0.37% to $0.6848, finding its feet after Wednesday's sharp retreat from a 19-month peak of $0.6908. The Chinese yuan edged higher to 7.0149 per dollar. The Swiss franc was little changed at 0.8498 per dollar. Source: Qatar News Agency
Friday, November 08, 2024