Euro and Pound fell to their lowest level in a month

The euro and the pound sterling fell to a one-month low against the US dollar on Friday, as investors worried about a further slowdown in global economic growth after US central bank officials reiterated the need to raise interest rates.

The dollar index rose 0.2 percent to 107.69, after earlier touching 107.74, its highest level since July 18. The index is on track to rise 1.9 percent this week, its best performance in ten weeks.

The euro settled at $1.0084, after touching its lowest level since July 15. Sterling fell 0.4 percent to a one-month low of $1.1882.

The euro is on track to fall 1.7 percent since last Friday, which would make it the worst week since July 8. As for the pound sterling, it is on the verge of recording its worst weekly performance in more than a year, with expectations that its weekly decline will reach two percent.

The US dollar rose against the Japanese yen to 136.76, the highest level since July 27. The Chinese yuan fell to a three-month low of 6.8150 per dollar in local transactions after the Chinese central bank sharply cut its mid-point and traders expected a further decline due to the economic slowdown.

As for cryptocurrencies, Bitcoin fell seven percent to $21,793 and Ether fell 5.8 percent to $1,737.