The Dollar rose against a basket of other currencies on Friday for the third session in a row.

The Dollar rose against a basket of other currencies on Friday for the third session in a row.

October 1, 2018 0 By Ali Hwary

The Dollar rose against a basket of other currencies on Friday for the third session in a row. The rise in the Dollar was supported by the outlook for multiple U.S. interest rate hikes till the year 2020, and the rising concerns regarding the Italian budget that weighed on the Euro.

The U.S. Dollar index rose by 0.15 percent against the basket of six major currencies on Friday, to trade at 94.75 at the close.

In Europe, the Euro fell against the Greenback on Friday, after the government of Italy has agreed on a budget overnight which was considered by some investors as defying Brussels. The EURUSD fell by 0.33 percent to close the session at 1.16019.

Moreover, in the United Kingdom, the Sterling Pound fell by 0.36 percent against the Greenback on Friday’s session to close the session at 1.30269. The Pound was pressured by the disappointments of the GDP data which showed that the economy is growing slightly slower, and the British companies have reduced their investments in the second quarter of this current year.

Regarding safe-havens, the Greenback rose against the Japanese Yen and the Swiss Franc on Friday; the USDJPY advanced by 0.27 percent hitting a nine-month high to close the session at 113.675. Furthermore, the USDCHF rose for the fifth consecutive session by 0.44 percent to settle up at 0.98147.

The precious metal Gold prices rose on Friday’s trading session, gaining around 0.79 percent to close the session at 1192.10 XAUUSD.

Elsewhere in Canada, the Dollar fell against the Loonie Dollar on Friday. The USDCAD tumbled by 1.03 percent to close at 1.29063.

In Asia, both Aussie and Kiwi advanced against their U.S. counterpart to close the session on positive notes at 0.72215 AUDUSD and 0.66178 NZDUSD.

In Cryptocurrencies pace, Bitcoin, Litecoin, and Ethereum tumbled against the Greenback to finish lower at 6615.81 BTCUSD, 59.95 LTCUSD, and 217.81 ETHUSD.

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