US Dollar stabilized near the highest level in several weeks

The dollar settled below a multi-week high against other major currencies on Thursday, a day after it received support from the latest Federal Reserve minutes that did not change the market’s expectations that the US central bank will raise interest rates further.

The euro settled at $ 1.0606, slightly above its lowest level in seven weeks at $ 1.0598, which it reached in the previous session, and the dollar reached 134.8 Japanese yen, away from its highest level in two months at 135.2, which it recorded on Tuesday.

During Thursday, the dollar index, which measures the performance of the greenback against six major currencies, settled at 104.48.

The index rose 0.36% on Wednesday after the minutes of the Federal Open Market Committee meeting that took place between January 31 and February 1 showed that almost all policy makers favored lower interest rate hikes, but also indicated that curbing unacceptably high inflation would be The “key factor” in the amount of interest rate hike needed.