Dollar loses steam after weeks-long rally

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Reuters UK

By Iain Withers LONDON (Reuters) – The U.S. dollar was headed for its worst week since early February versus major peers on Friday, as some of the heat faded from the currency’s breakneck 10% surge. The greenback has been supported by a flight to safety by investors, amid a rout across markets due to fears of the impact of soaring inflation and Russia’s invasion of Ukraine. But after rising in all but two of the last 14 weeks, the dollar index was on track for a 1.5% weekly fall on Friday. The index, which tracks the dollar against six major rivals, was broadly flat on the day at 102.92. Last …

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