Agencies-Gaza post
Dollar hits other currencies in the world
The dollar index had raised near 20-year highs against other major currencies, boosting market selloffs in the face of global recession fears.
The U.S. currency remained high on expectations that the U.S. Federal Reserve would tighten monetary policy faster than peers to halt runaway inflation.
Analysts said that the US jobs report expected to be released later today could reinforce the argument for a strong tightening.
Economists expect to add 391 1,000 jobs in the United States last month, according to a Reuters poll.
The dollar index, which measures currency performance against a basket of six rival major currencies, rose 0.5% in early European trading hours to hit a 20-year high of 104.07 points, but later lost steam in volatile trading, settling in the latest transactions at 103.55. The index appeared clear that it would gain for the fifth consecutive week, up 0.3% during the week.
Source: HERE
