ISSN: 2056-3736 (Online Version) | 2056-3728 (Print Version)


The dollar snapped a two-week losing streak against the euro Friday as investor optimism about the course of Federal Reserve interest-rate hikes in 2016 helped support the U.S. currency.

The euro traded at $1.0869 late Friday in New York, down 1.1% on the week. The dollar traded at ¥121.23, down 0.2% on the week; the pound  traded at $1.4905, down 1.7% on the week.

The ICE U.S. Dollar index , a measure of the dollar’s strength against a basket of six rival currencies, rose 1.1% on the week to 98.6900.

The Fed raised its benchmark interest rate Friday for the first time in nearly a decade, and it also released a set of forecasts, included a chart of policy makers’ projections for the pace of rising interest rates next year, that helped support the dollar against its main rivals.

“It wasn’t always easy being long dollars but the Federal Reserve breathed new life into the greenback this past week and now we look forward to further gains in 2016,” said Kathy Lien, managing director of currency strategy for BK Asset Management.