U.S. Dollar at One Week High on Expectations

The U.S. dollar traded at one-week highs against a basket of major currencies early on Friday, having been swept higher as investors took aim at the euro in a volatile end to a very choppy month.

The dollar index rose as far as 81.135 from Thursday’s low of 80.545, on track to end the week up 0.7 percent. It was up 1.3 percent so far this month.  U.S. dollar bulls welcomed data on Thursday showing the world’s biggest economy grew at a solid 3.2 percent annualised rate in the fourth quarter.

Traders said that was enough to support the view that the Federal Reserve can continue to wind down its stimulus program.

Reuters

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