The dollar headed for a third weekly gain in a row on Friday, helped by a dovish European Central Bank and strong U.S. data that is pushing out expectations ...
SINGAPORE - The dollar headed for a third weekly gain in a row on Friday, helped by a dovish European Central Bank and strong U.S. data that is pushing out expectations for how fast U.S. rates can fall, particularly if Donald Trump wins the presidency.
Four sources close to the matter told Reuters the ECB was likely to cut again in December unless economic data suggests otherwise. Trump's prospects have also set bitcoin rallying since his administration is seen as taking a softer line on cryptocurrency regulation. It was last at $67,335, up 13% since Oct. 10. The U.S. goes to the polls on Nov. 5.
Israel's shekel rose and touched a two-week high after the news, though Israeli Prime Minister Benjamin Netanyahu said fighting would go on and broader markets had little immediate reaction.
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