- November 25, 2022
- Posted by: Stratford Team
- Category: Economy
SINGAPORE, Nov 25 (Reuters) – The dollar stood close to a three-month low and was on track for a weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary policy tightening as soon as December dominated investors’ minds and kept the mood buoyant.
Trading was thin overnight due to the Thanksgiving holiday in the United States, though most currencies extended their gains against a softer greenback before paring them slightly in early Asia trade.
Sterling rose more than 0.5% overnight and last stood at $1.21125, close to its over three-month high of $1.2153 hit in the previous session and on track for a nearly 2% weekly gain.
The Japanese yen jumped roughly 0.7% overnight, and last bought 138.60 per dollar.
Minutes from the Fed’s November meeting released earlier this week showed that a “substantial majority” of policymakers agreed it would “likely soon be appropriate” to slow the pace of interest rate hikes — remarks that sent the…
