Greenback stays at Eight-month peak vs. rivals

© Reuters. Dollar holds at 8-month highs as U.S. rate hike speculation supports

Investing.com – The dollar remained at an eight-month peak against the other major currencies on Friday, as trading volumes were expected to remain thin for the long Thanksgiving weekend and as hopes for an upcoming U.S. rate hike continued to support.

slid 0.30% to 1.0579, not far from Wednesday’s seven-month trough of 1.0564.

The greenback remained broadly supported after a string of upbeat U.S. data released over the week added to expectations that the Federal Reserve will raise interest rates next month.

However, the euro’s gains were held in check since last week that the bank is ready to act quickly to boost inflation in the euro zone and can also change the level of its deposit rate to boost the impact of quantitative easing.

eased up 0.09% to 122.68.

In Japan, data on Friday showed that fell 0.7% in October, compared to expectations for an increase of 1.1% and after a 1.3% drop the previous month.

A separate report showed that rose by an annual rate of 0.2% in November, in line with expectations.

, which excludes fresh food, in Tokyo was flat this month, compared to expectations for a 0.1% downtick.

Elsewhere, the dollar was higher against the pound and the Swiss franc, with down 0.42% at 1.5039 and with gaining 0.68% to 1.0307.

The U.K. Office for National Statistics reported on Friday that rose 0.5% in the third quarter, in line with expectations and with a previous estimate.

Year-on-year, expanded 2.3% in the three months to September, as expected and in line with an initial estimate.

The Australian and New Zealand dollars were weaker, with down 0.42% at 0.7196 and with declining 0.65% to 0.6529.

Meanwhile, climbed 0.44% to trade at 1.3351, not far from Monday’s two-month high of 1.3437

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.32% at 100.18 just below Wednesday’s eight-month peak of 100.21.

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Greenback stays at Eight-month peak vs. rivals