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US dollar falls, but near-term outlook remains upbeat

Mount Equity Group Tokyo Japan > News > Markets > US dollar falls, but near-term outlook remains upbeat

The safe-haven US dollar on Friday slipped from a nine-and-a-half-month high as risk appetite improved, with equities gaining and benchmark US Treasury yields higher, although the near-term outlook for the greenback remained upbeat.

The US currency remained supported overall by concerns that the Delta variant of SARS-CoV-2 could derail global economic recovery just as central banks begin to reverse COVID-19 pandemic-related stimulus.

The US dollar index, which measures the US currency against six rivals, rose to as high as 93.734 for the first time since early November last year, before trading 0.1 percent lower at 93.491. For the week, it posted a 1 percent gain, the most in two months.

In Taipei, the New Taiwan dollar fell against the greenback, losing NT$0.039 to close at NT$28.008, falling 0.5 percent for the week.

While moves in currency…

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