U.S. Dollar Finishes Last Week Strongly

The dollar firmed for a second straight session on Friday after three consecutive days of losses, bolstered by safe-haven bids on worries about the health of the global economy with slow-downs evident in Europe, Japan, and China.

The dollar index, however, a measure of the greenback’s value against a basket of major currencies, was still on track to end the week on a negative note, its first in 13 weeks. The index was also on pace for its largest weekly fall in six months.

In midmorning trading, the dollar index was up 0.4 percent on the day at 85.842.  The euro, meanwhile, slumped on concerns about the region’s economic weakness, specifically Germany. Worries about the euro zone were echoed by European Central Bank President Mario Draghi, who said on Friday that a slowdown in the euro zone’s economic momentum could weigh further on the reluctance of companies and households to invest.

CNBC

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