Weekly roundup: US dollar bolstered by risk-off trade
The US dollar trended broadly higher last week, as skittish investors favoured the safe-haven currency.
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The US dollar trended broadly higher last week, as skittish investors favoured the safe-haven currency.
The US dollar got off to a strong start this week, after it was confirmed that Jerome Powell will remain chair of the Federal Reserve.
The euro tumbled at the end of last week’s session, being undermined by comments made by European Central Bank (ECB) President Christine Lagarde.
The pound ticked lower on Thursday, as the currency was undermined by a bout of profit taking by GBP investors.
The pound trended higher again on Wednesday, in response to a stronger-than-expected UK consumer price index.
The pound rallied on Tuesday, with the currency being underpinned by a larger-than-expected drop in domestic unemployment.
The US dollar enjoyed strong support last week, courtesy of a stronger-than-expected US inflation print.
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