The dollar fell on Friday but following the highly anticipated meeting of President Trump and China’s Xi.
Before slowing, the dollar was on track for its second consecutive weekly gain amid rising bets on rate hikes, while the yen rallied after Japan said Tokyo and Washington remain committed to the stance underlying July’s joint intervention.
Friday, the euro rose 0.2% to $1.141.
Sterling increased by 0.3% to $1.326, staying near a three-month low.
Meanwhile, U.S. energy prices decreased, easing expectations of Federal Reserve rate hikes, and were heading for a third consecutive weekly decline after hitting a two-month low on Thursday.
Markets have aggressively repriced the US interest rate trajectory following the Federal Reserve’s policy tightening last week.
The offshore yuan stayed unchanged at 6.721 per dollar as a Trump-Xi summit in Washington revealed no breakthroughs during a closed-door meeting on complex topics like AI, trade, Taiwan, and the Iran conflict.
By CEO NA Editorial Staff
