Dollar edges up, on track for third straight day of gains

Published by
Reuters UK

By Chuck Mikolajczak NEW YORK (Reuters) – The dollar edged higher against a basket of major currencies on Friday, putting it on track for a third straight day of gains, as crude prices reversed earlier weakness and added to pressure for the Federal Reserve to be aggressive in combating inflation. After initially declining, oil prices rebounded following a missile attack hit Saudi Arabia’s state-run oil company Aramco’s storage facility. The war in Ukraine and resulting rise in commodity prices has added upward pressure to already high inflation. The dollar index rose 0.071%, with the euro down…

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