Sharjah24 – Reuters: The dollar headed for its first weekly decline versus major peers since the start of last month, falling back from a one-year high as traders turned their attention to when the U.S. Federal Reserve will start raising interest rates.
The dollar index, which measures the greenback against six rivals, slipped 0.1% to 93.945 on Friday. It is on track for about a 0.19% decline this week despite hitting the highest since Sept. 25 of last year at 94.563 on Tuesday.
Improved market sentiment, which has lifted global stocks, commodity prices and bond yields, is also weighing on the safe-haven dollar.
Only against the yen - another currency seen as a haven - has the dollar managed to maintain the momentum of the past five weeks, rising 0.33% on Friday and touching 114.075 yen for the first time since December of 2018.
"We end the week with risk flying," Chris Weston, head of research at brokerage Pepperstone in Melbourne, wrote in a client note.
"Equities are going up hard, and the JPY has no place as a hedge," because it would just drag on overall portfolio performance, Weston said.
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