US Dollar on the Way to Weekly Gain

The US dollar is on course to close the week slightly higher after a few days of volatility when it was hit by a shift in risk appetite, with the market now focused on the US Federal Reserve meeting next week.

The dollar index rose 0.2% during the week and rose slightly on Friday to 92.891.

The Greenback is trading below a three-and-a-half-month high of 93.194 hit by the dollar on Wednesday after strong Wall Street earnings helped investors regain some confidence lost on fears that the Delta strain of the coronavirus could obstruct the anticipated global economic recovery.

The safe-haven dollar fell, except against the euro, under pressure after the dovish ECB meeting. The Euro settled at $1.1772, unaffected by the mixed readings of the Purchasing Managers’ Surveys in France and Germany.

Eurozone survey results are due at 08:00 GMT.