The dollar rises to a record high after the Fed’s comments


The US currency rose, on Friday, to its highest level in three months, against a basket of major currencies.

The US Dollar 2 settled in the last session at 91.960 in early London trade, after it gained 0.7% on Thursday.

Risky currencies, including the Australian dollar and its New Zealand counterpart, slumped, tracking stocks as investor sentiment turns pessimistic once again.

The Australian dollar fell 0.6% to a 3-week low of $ 0.7673, extending Thursday’s losses of 0.7%. The New Zealand dollar fell 0.6% to $ 0.7140.

In the cryptocurrency market, Bitcoin fell 3.7% to $ 46,571. Ether decreased 5.52% to $ 1453.29.

The rise in the dollar comes after Federal Reserve Chairman Jerome Powell did not seem concerned about the recent wave of bond selling and stuck to his position to keep interest rates low for a long time.

The euro fell 0.4% to its lowest level in 3 months, recording $ 1.19255, after falling 0.7% overnight, and the dollar reached an 8-month high against the yen, recording 108.45, up 0.5% against the Japanese currency.

In a forum for the Wall Street Journal on Thursday, Powell said that a wave of Treasury bond sales was not disrupting the system and was unlikely to push long-term interest rates so high that the Federal Reserve would intervene more aggressively. His comments reignited the wave of selling in Treasury bonds.


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