Dollar index trims gains but remains at 14-year peak

© Reuters. Dollar off session highs but still broadly supported vs. rivals

Investing.com – The dollar trimmed gains but continued to hover at a 14-year peak against the other majors currencies on Friday, as optimism over the strength of the U.S. economy and expectations for a December rate hike by the Federal Reserve continued to support.

was little changed at 1.0628, 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”.

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 0.73% to 1.2330.

edged down 0.12% to 109.98, after hitting a five-month high of 110.93 overnight, while was little changed at 1.0073.

The Australian dollar pared earlier losses, but was still down 0.17% at 0.7395, while gained 0.38% to 0.7052

Meanwhile, slipped 0.10% to trade at 1.3507.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 101.02, just off a fresh 14-year peak of 101.44 hit earlier in the day.

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Dollar index trims gains but remains at 14-year peak