Dollar Ends Week Lower
The US Dollar ended the last week of March ranged lower than other major currencies, being affected by traders reluctance in purchasing the greenback, ahead of having key data as next week’s U.S. employment report for March.
ahead of US jobs data programmed for next week and also, by Federal Reserve Chair Janet Yellen’s recent comments.
Present at a monetary conference in San Francisco, Yellen went public on the fact that the Fed is considering reducing its accommodative monetary policy and spoke about rate hike as warranted for later this year. Analysts consider that the possibility of higher rates was kind of “hawkish”, as it came after the Fed Policy statement released on March 18, when a less aggressive pace for hiking rates was suggested and numerous Wall Street top banks pushed their expectation for the first rate hike to September.
The dollar index was last down 0.06 percent at 97.374, posting its second straight weekly loss, after it had been rallying over 25 percent from the beginning of May, last year and up to Fed’s March 18 statement.
The Euro grew slightly against the dollar at $1.08910, while the US currency was last down 0.12 percent against the franc at 0.96180 franc.