21.11.202514:31:29UTC+00Dollar Index at 6-Month High

The dollar index rose to approximately 100.3 on Friday, reaching its highest point since mid-May, and is poised to conclude the week with an increase of nearly 1%, marking its first weekly gain in three weeks. This uptick was bolstered by a renewed shift away from risk in AI-related stocks and cryptocurrencies. Meanwhile, traders heightened their expectations for a Federal Reserve rate cut in December following comments from New York Fed President John Williams, indicating the central bank might soon have room to adjust its policies as the labor market shows signs of easing. The likelihood of a December rate cut has surged to around 71%, a significant rise from below 30% earlier in the week. The dollar appreciated against the euro and the Swiss franc but depreciated against the yen, prompted by intensified verbal interventions from Japanese officials aimed at curbing the yen’s decline.