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Dollar Continues To Stay Firm
(RTTNews) - The U.S. dollar firmed against most of its major counterparts on Friday after staying a bit sluggish for much of the day's session.
The Federal Reserve's hawkish tone earlier this week continued to push up the demand for the currency.
Data showing a contraction in U.S. business activity in the month of December weighed on dollar earlier in the session, but the currency slowly edged its way up to eventually settle fairly well above the flat line.
Comments from New York Fed President John Williams that the central bank might raise interest rates more than it currently expects next year, contributed a bit to the dollar's surge.
The dollar index settled at 104.84, gaining 0.26% in the session
Against the euro, the dollar firmed to 1.0587.
The dollar strengthened to 1.2141 against Pound Sterling, gaining about 0.3%.
Against the Japanese currency, the dollar gave up some ground, and settled at 136.70 yen, nearly 0.8% down from the previous close.
The dollar strengthened to 0.6685 against the Aussie, and was stronger against the Swiss franc as well, fetching CHF 0.9342 a unit. Against the Loonie, the dollar firmed to C$1.3726, gaining more than 0.5%.
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