NEW YORK: The dollar rose against a basket of currencies on Friday, paring some of the week’s losses, as a stronger-than-expected rise in US and China’s inflation gauges drove up bond yields. The US Dollar Currency Index, which measures the greenback against a basket of six currencies, was 0.156% higher at 92.218.
Sterling steadied on Friday, having touched a two-month low against the dollar in early London trading. It was still set for its biggest weekly drop against the euro so far this year, hurt by profit-taking after a strong first quarter.
The Australian dollar also fell as much as 0.9%, before paring its losses.