Traders Sell the Dollar Looking for European Currencies

The U.S. dollar was weaker on Friday (Dec. 31) as investors sold the U.S. dollar, the safe-haven currency. They bought riskier currencies such as the euro and the pound.

  • The dollar’s movement index against six major currencies in a basket of currencies was down 0.40% at 95.5916.
  • The US dollar weakened against the Swiss franc to 0.9117 francs from 0.9138 francs.
  • The dollar was lower against the Canadian dollar to 1.2640 Canadian dollars from 1.2744 Canadian dollars.
  • The US dollar strengthened against the yen at 115.08 yen from 115.06 yen.
  • The euro was higher against the dollar at $1.1384 from $1.1326.
  • The pound rose to $1.3533 from $1.3509. The Australian dollar rose to 0.7270 from $0.7255.

Pound strengthens on risky currency buying after investors shed worries about the economic impact of the pandemic. Analysts expect the Bank of England to raise interest rates again in 2022

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