The dollar fell about one percent from its highest level in 20 years against other major currencies at the beginning of a week that will witness dozens of decisions from central banks, led by the Federal Reserve (the US central bank) on Wednesday, followed by the Bank of Japan and the Bank of England the next day.
The dollar index, which measures the dollar’s performance against six major currencies, rose 0.09 percent on Friday to 109.66, consolidating after two volatile weeks, reaching 110.79 on September 7 for the first time since mid-2002, and to 107.67 after six days.
Investors were swayed by economic data that sometimes indicated that the Federal Reserve may slow the pace of interest rate hikes to reduce the damage to the economy and the risk of recession, only to show that inflation is still rising rapidly.
The dollar was little changed, recording 142.905 Japanese yen, settling after rising to a 24-year high of 144.99 earlier this month.
The British pound settled at $1.1426, after falling to a 37-year low of $1.1351 on Friday.
The euro was little changed at $ 1.00075 to continue a week of consolidation after swinging between its lowest level in 20 years at $ 0.9864 on the sixth of September and its highest level in almost a month at $ 1.0198 a week ago.
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