The dollar continues to achieve its fourth weekly gain


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The dollar made gains for the fourth consecutive week against its major rivals, as traders bet that US interest rates will rise faster than expected amid rising inflation worldwide.

The euro was one of the biggest losers against the dollar, and is on track to fall about 1% this week, with European Central Bank President Christine Lagarde opposing expectations of tightening monetary policy in the euro zone.

Lagarde reiterated her position, saying that the ECB should not tighten monetary policy because it could stifle the recovery. And the euro fell in the latest trading 0.5%, recording 1.13195 dollars.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, shows that it almost achieved a weekly gain of 0.9%.



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