Dollar edges higher as selling pressure abates

Published by
Reuters UK

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar was on track to snap a 3-day losing streak on Friday as a selling spree driven by the view that Federal Reserve tightening moves were largely priced-in appeared to abate. The U.S. dollar index was 0.1% higher at 94.931, but still looked set to finish the week down about 0.9%, its worst weekly showing in eight months. The greenback, which rose more than 6% against a basket of currencies in 2021, came under pressure this week despite Fed Chair Jerome Powell saying that the U.S. economy is ready for the start of tighter monetary policy and …

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