Dollar Stabilizes Near a 14-Month High against the Euro
The dollar is holding near its highest levels against the euro. As for the dollar index, which measures the performance of the US currency against other major currencies, it saw no changes.
The dollar settled on Thursday near its 14-month highs against the euro, as the prospects of the Federal Reserve taking action sooner to normalize policy increased on the back of higher energy prices.
The US currency settled at $1.15525 per euro, after rising to $1.1529 on Wednesday, for the first time since July of last year.
As for the dollar index, which measures the performance of the US currency against a basket of six other major currencies, there was little change in it, to record 94.252 after rising by nearly 0.5% during the past two sessions, which brought it back to near a one-year high of 94.504 hit last week.
The Japanese yen, another safe haven, largely settled at 111.44 per dollar, close to the middle of its range over the last week and a half.
As for digital currencies, bitcoin, the world's largest cryptocurrency by market capitalization, hovered near a nearly 5-month high of $55,800 on Wednesday, and was, in its latest trading, at about $54,776.