Reported 5 months ago
The dollar declined against most major currencies on Friday as traders took profits after recent gains, but it remained poised for further advancement due to strong U.S. economic data reducing expectations of interest rate cuts. Data showed a rebound in U.S. business activity and increased spending on equipment, while Fed minutes indicated a debate among policymakers regarding inflation. Despite a slight retreat, the dollar's near-term outlook was positive, with the euro up and the pound rising due to sticky inflation and the UK general election announcement. In the cryptocurrency market, ether remained stable after SEC approvals for ETFs tied to its price.
Source: YAHOO