NEW YORK: The dollar rose Friday against the euro, the yen and the British pound following remarks from the US central bank favoring a near-term increase in interest rates.
In a much-anticipated address, US Federal Reserve Chair Janet Yellen said the case had "strengthened" in recent months for a rate increase but did not clearly say when this could occur.
Toward 2100 GMT, the euro was at $1.1195, down from $1.1281 on Thursday while the dollar rose to 101.77 yen, up from 100.55.
The pound fell to $1.3135 from $1.3187. Christopher Vecchio, a currency analyst at DailyFX, said Yellen´s speech had given the dollar trade a needed shot in the arm on currency markets.
"The US Dollar Index, mired in an apathetic lull the past several days, is in the midst of posting its widest daily trading range of the week on the back of Chair Yellen´s commentary," said Vecchio.
US central bankers are due to meet again three times between now and the end of the year.
-
Bitcoin crashes below $63K as regulatory pressure and market fears grow -
Bitwise Crypto Industry innovators ETF: What investors should do in 2026? -
Nintendo shares slide again as momentum fears grow -
Gold, silver prices fallen sharply; What’s driving the drop? -
Gold’s record climb: Experts question if its safety is ‘overstated’ -
Dubai unveils plans to construct street built with real gold -
Netflix slams Paramount’s bid: 'Doesn't pass sniff test’ as Warner battle escalates -
Ubisoft: Shares plunge amid restructuring plan and wave of games cancellations