Currency Buzz: Dollar Continues To Hold Under 106 Mark

25 Nov 2022 , 10:23 AM

The dollar index continues to hold under 106 mark on Friday after the minutes from the Federal Reserves November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting. The dollar index, which measures the greenback against six major peers, was at 105.70, down 0.26% on the day. Earlier this month, the Fed delivered its fourth straight 75 basis point rate increase in an effort to tame stubbornly high inflation, pushing borrowing costs to the highest levels since 2008. However, worsening China Covid cases and ensuing retractions are likely to keep the safe haven currency supported.Powered by Commodity Insights