Dollar index remains at 14-year highs in quiet trade

© Reuters. Dollar continues to trade at 14-year highs vs. other majors

Investing.com – The dollar continued to hover at 14-year highs against the other majors currencies on Friday, amid sustained optimism over the strength of the U.S. economy and growing expectations for a December rate hike by the Federal Reserve.

slipped 0.24% to 1.0599, just off an 11-month trough of 1.0582 hit earlier in the session.

The greenback remained broadly supported after strong U.S. and data on Thursday fueled further expectations for a rate hike at the Fed’s December policy meeting.

In addition, that an increase in interest rates could be “appropriate relatively soon”.

On Friday, that while she supports raising interest rates, the U.S. central bank must do so only gradually.

Meanwhile, the euro weakened after that the central bank will continue to act as warranted using all instruments available.

Speaking at the 26th European Banking Congress, in Frankfurt, Draghi added that the euro zone’s economic recovery still relies to a considerable degree on accommodative monetary policy.

Elsewhere, declined 0.66% to 1.2337.

gained 0.32% to a five-month high of 110.47, while rose 0.26% to 1.0098.

The Australian dollar remained weaker, but down 0.62% at 0.7360, while added 0.16% to 0.7037.

Meanwhile, held steady at 1.3526.

Statistics Canada reported on Friday that the gained 0.2% in October, in line with expectations. Year-on-year, advanced 1.5% last month.

, which excludes food and energy, rose by 0.2% in October, in line with expectations.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.47% at a 14-year peak of 101.47.

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Dollar index remains at 14-year highs in quiet trade