2024-04-05T14:30:25+00:00
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/ The US dollar rose in the European market on Friday against a basket of global currencies, holding above the lowest level in two weeks, with currency purchases rebounding as the best available investment.
The Federal Reserve relies heavily on labor market data in determining appropriate monetary policy tools for economic developments in the country.
The price of the US dollar index today: The dollar index rose by about 0.15% to the level of (104.35) points, from the opening level of today’s trading at (104.20) points, and recorded the lowest level at (104.14) points.
The index also ended Thursday’s trading down by less than 0.1%, marking the third daily loss in a row, and recorded its lowest level in two weeks at 103.92 points.
The US currency trimmed its losses after statements by a member of the Federal Reserve’s Monetary Policy Committee.
“If inflation continues to move higher, it makes me question whether we should cut interest rates at all this year,” Minneapolis Fed President Neel Kashkari said on Thursday.