Welcome to the Reuters.com BETA. Read our Editor's note on how we're helping professionals make smart decisions.
Skip to main content

China

Dollar roughly flat but close to 4-month highs on economic optimism

2 minute read
1/2

U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won

  • Dollar largely flat after climbing all week
  • Greenback edges off high vs. Japanese yen since June
  • Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

LONDON, March 26 (Reuters) - The dollar was roughly flat against major currencies on Friday, but still near four-month peaks, on continued optimism about the U.S. economy, and came close to surpassing a 10-month high against the Japanese yen.

Against a basket of six major currencies , the greenback stood at 92.7200, on track to close out the week with a gain of about 0.7%. It was shrugging off data showing that consumer spending recently fell. read more

The dollar-yen also rose as high as 109.80, roughly the highest since June. Late on Friday, it was at 109.6400.

"The dollar has gotten a second wind," said Minh Trang, senior foreign exchange trader at Silicon Valley Bank, adding that the upward trend in the greenback "will come in spurts as bull markets do."

Yields on U.S. Treasuries rose but held below one-year highs reached last week. [nL1N2LO27M]

U.S. jobless claims fell to a one-year low last week and President Joe Biden said he would double his vaccination plan after reaching his previous goal of 100 million shots 42 days ahead of schedule, both of which support optimism about the dollar. read more

The euro managed to claw back ground from Thursday's four-month low, though the common currency is still bruised by doubts over the slow pace of vaccinations and rising infections.

In a boost for the euro, business morale in the euro zone's biggest economy Germany hit its highest level in almost two years in March as rising demand for manufactured goods kept factories humming. read more

Elsewhere, bitcoin gained more than 4%, helping recover some of its pullback from a record high of almost $62,000 touched earlier this month. It was last up 4.50% at $53,654.

Currency bid prices at 3:40PM (1940 GMT)

Reporting by Tom Wilson, additional reporting by Stanley White in Tokyo; editing by Larry King and Hugh Lawson

Our Standards: The Thomson Reuters Trust Principles.

More from Reuters