US dollar heads for 12th week of gains

Today, Friday, the dollar is heading for gains for the twelfth week, but it moved mostly in a limited range as markets awaited non-farm payrolls data in the United States later on Friday, searching for signs of whether the Federal Reserve… (The US Central Bank) will change its course regarding interest rates

According to Reuters, the dollar index stabilized in the latest trading at 106.43, but remained on track to achieve gains for the twelfth week in a row. The last time such a series of rises was recorded was in 2014. Earlier in the week, it reached its highest level in almost 11 months, recording 107.34.

The dollar is also heading towards achieving a record number of gains over 12 consecutive weeks against the euro, which fell in recent trading by 0.07 percent to $1.0541.

The closely watched US jobs report will be released on Friday after a series of strong economic data that reinforced the Federal Reserve’s statements that interest rates will remain high for a longer period and pushed the US currency and US Treasury bond yields higher.

Large sales of government bonds also stabilized on Friday, with 30-year US Treasury bond yields recording 4.8836 percent in the latest trading after rising above five percent for the first time since 2007 earlier this week.

Bond yields move opposite to the direction of prices

10-year Treasury bond yields stabilized at 4.7151 percent in the latest trading, and two-year bond yields stabilized at 5.0244 percent.

On Friday, the dollar stopped rising as a break for the yen, which recorded 148.73 to the dollar in the latest trading.

The Australian dollar fell 0.02 percent to $0.6369, and the New Zealand dollar fell 0.04 percent to $0.59605.