Dollar Pressured by Hawkish BoE, ECB Stances- 16 December, 2021

The dollar was held under pressure by the end of the week as the Bank of England and the European Central Bank were more hawkish in their stances than the market had expected which helped boost the euro and sterling. Against six major peers, the dollar index was 0.61% lower after a two day slide to 95.850, the lowest since Dec 8. Sterling was as high as $1.33755, its highest since Nov 24, before settling at $1.33305, with the BoE becoming the first major central bank to raise interest rates since the beginning of the global pandemic. The euro was trading at a months high of $1.13605 before settling at $1.13315.The dollar was slightly higher against the yen at 113.76, and the Aussie fell 0.06% to $0.7178, having hit a three week high overnight at $0.7224.