The dollar stabilizes near its highest level in 14 months against the euro – Al-Ghad channel

US dollars in an illustrative photo from the Reuters archive.

The dollar held near a 14-month high against the euro on Thursday, as the prospects of the Federal Reserve taking action sooner to normalize policy increased, on the back of higher energy prices.

The US currency settled at $1.15525 per euro, after rising to $1.1529 on Wednesday for the first time since July last year.

There was little change in the dollar index, which measures the performance of the US currency against a basket of six other major currencies, to record 94.252 after rising by nearly 0.5% during the past two sessions.

That brought it back to near a one-year high of 94.504 hit last week.

The Japanese yen, another safe haven, was largely flat at 111.44 per dollar, close to the middle of its range over the last week and a half.

As for digital currencies, Bitcoin, the world’s largest cryptocurrency by market capitalization, hovered near its highest level in almost 5 months at $ 55,800 yesterday, and was in its latest trading at about $ 54,776.

 
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