The US dollar continued its gains journey for the tenth week in a row, recording the longest weekly wave of gains since 2014, supported by the tight monetary policy adopted by the US Federal Reserve, compared to the policies pursued by the central banks of the eurozone, Britain and Japan.
During the day’s trading, the dollar index against a basket of currencies rose by about 0.10 percent to about 105.47, a level not far from its six-month high, which was recorded in the previous session at 105.74.
On the other hand, the British pound fell 0.28 percent to 1.2263 dollars, after falling to its lowest level in almost six months at 1.22305 dollars, on Thursday, after the Bank of England stopped raising interest rates after raising them 14 times.
The Japanese yen fell on Friday after the Central Bank of Japan maintained its ultra-easy monetary policy
The yen fell to a ten-month low in the previous session on the back of rising US Treasury bond yields.
At the end of its meeting on Wednesday, the US Federal Reserve kept interest rates unchanged at a level between 5.25% and 5.50%, but indicated an additional increase this year, and also toughened its tone on whether interest rates will remain at high rates for a longer period.
