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Dollar gains against Yen and Euro
The dollar rose against the euro and the Japanese yen, while remaining steady against the British pound, with the yen heading towards its largest weekly loss in three months due to official intervention efforts between the American and Japanese governments. The yen declined by 1% to reach 159.43 against the dollar, approaching the 160 mark, which may prompt the government to take further action. The yen also dropped by 0.8% against the euro to 183.91, marking its biggest weekly decline against the European currency since April. In the global forex market, there was a balance between dollar support driven by rising oil prices and expectations of a US interest rate hike, as the euro slightly decreased by 0.2% to 1.1536 dollars, while the pound remained steady at 1.3489 dollars.
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