NEW YORK/LONDON, March 15 - The dollar rose to a more than one-week high on Friday after a mixed batch of data showed the U.S. economy remained stable with small pockets of weakness, suggesting the Federal Reserve could keep interest rates higher for longer or reduce the number rate cuts this year.
U.S. consumer sentiment and inflation expectations were little changed in March, a survey showed on Friday. The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 76.5 this month, compared to a final reading of 76.9 in February. "The focus next week is on the Fed dots," said Marc Chandler, chief market strategist at Bannockburn Global Forex, referring to the Fed's interest rate forecasts.
The dollar continued to rise against the yen, up 0.5% at 149.045 . On the week, the greenback rose 1.3%, on track for its biggest gain since mid-January. The euro was flat at $1.0882. The European Central Bank council last week began a discussion on when to reduce its own rates, council member Olli Rehn said on Friday.In cryptocurrencies, bitcoin prices slipped as much as 7% in volatile trade from a record high touched on Thursday as risk sentiment took a hit. It was last down 3.5% at $68,198.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »