On Friday, the US dollar declined as the appetite for risk increased, supported by positive earnings results from major technology companies on Wall Street. Meanwhile, traders are eagerly awaiting US job data later today to glean insights into when the Federal Reserve may begin cutting interest rates.
The non-farm payroll report, which is closely followed, is expected to be released later today. This comes after the Federal Reserve kept interest rates unchanged at its latest meeting, as anticipated. However, its chairman, Jerome Powell, dispelled market expectations of a rate cut in March.
The Australian dollar rose 0.33 percent, aided by an appetite for risk, reaching 0.6594 US dollars in the latest trading session. It is expected to finish the week with a 0.3 percent increase.
The New Zealand dollar is rising by 0.11% to 0.6151 US dollars and is on track to achieve a weekly increase of 1%, marking its best performance in over a month.
In exchange for a basket of currencies, the dollar decreased by 0.06 percent to 102.99, continuing its decline after having dropped by 0.5 percent in the previous session.
The dollar index is heading towards registering its first weekly decrease of the year.
There has been little change to the yen, which settled at 146.36 to the dollar. The currency is on track to achieve a weekly gain of over one percent, marking its best weekly performance in over a month.
“The British pound increased by 0.07% to reach 1.2752 dollars.”
The euro increased by 0.08% to $1.0880, heading towards a weekly gain of about 0.3%. (Reuters)
