Dollar On Track For Weekly Gain – 30 June, 2022

The dollar was on track for its best week in four, remaining little changed against major peers, as investors weighed the boost from tighter Federal Reserve policy and the risks of a U.S. recession. The dollar index was up 0.07% against six major currencies, after slipping 0.32% overnight when it was undermined by weaker-than-expected consumer spending data. The euro fell 0.16% to $1.0469, retreating after dollar weakness on Thursday saw it rally 0.39% to come off a two-week low at $1.0381. The yen was about flat, with one dollar buying 135.77 of the Japanese currency. Sterling dropped 0.26% to $.1.21475, reversing Thursday’s 0.45% climb. For the week, it has dropped 1.02%. The risk-sensitive Australian dollar was also 0.26% lower, changing hands at $0.6885. It has fallen 0.81% this week.