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Dollar Rises Against Major Counterparts On Safe Haven Appeal
(RTTNews) - The U.S. dollar firmed against its major counterparts on Friday amid concerns about inflation and on Fed Chair Jerome Powell's congressional testimony that signaled more interest rate hikes from the U.S. central bank.
Weak business activity data from several countries curbed risk sentiment and prompted investors to seek the safe-haven dollar.
The dollar index climbed to 103.17 in the Asian session, and despite easing to 102.88, remains firm with a gain of nearly 0.5%.
Against the Euro, the dollar strengthened to 1.0897, and against Pound Sterling, it firmed to 1.2717, gaining about 0.25%.
The dollar has gained nearly 0.5% against the Japanese currency, fetching 143.75 yen a unit. Against the Aussie, the dollar has strengthened to 0.6678 from 0.6756.
The dollar is strong against Swiss franc at CHF 0.8969, and against the Loonie, has strengthened to C$ 1.3187 from C$ 1.3151.
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