Investing.com - The dollar rose against the world's major currencies on Friday, bolstered by a weaker yen and also by Federal Reserve Chairman Ben Bernanke's suggestions that further monetary stimulus measures won't be needed any time soon.
In afternoon U.S. trading Friday, the euro was down against the greenback, with EUR/USD losing 0.88% and trading at 1.3196.
Earlier this week, U.S. Fed Chairman Ben Bernanke told lawmakers the U.S. Central Bank has no concrete plans to roll out a third round of quantitative easing, which are asset purchases from banks designed to lower interest rates and stimulate the economy.
Coupled with expectations that upcoming economic indicators in the U.S., including jobless numbers, will be stronger than expected going forward, the dollar rose.
Initial jobless claims for the past week came in at 351,000, lower than expected.
In one week, the Bureau of Labor Statistics is due to release its jobs report, one of the most-watched economic indicators in the U.S.
In Japan, officials have undertaken easing measures to weaken the euro, and the policies are paying off, which further bolstered the greenback.
Eurozone officials are meeting to discuss ways to firewall and extinguish the debt crisis there, while agreeing that austerity measures imposed on countries accepting bailouts should allow for economic growth as well.
The European Central Bank's announced EUR530 billion long-term refinance operation, which makes low-cost loans available to banks with the aim of easing credit conditions, was a welcome move and has largely been priced into stock and currency prices.
Meanwhile, the dollar was up against the pound, with Cable down 0.80% and trading at 1.5829.
The greenback was up 0.84% against the yen, with USD/JPY trading at 81.80, and up against the Swiss franc, with USD/CHF up 0.91% and trading at 0.9142.
The greenback was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.30% at 0.9884, AUD/USD down 0.66% at 1.0737 and NZD/USD down 1.27% at 0.8288.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.79% at 79.46.
On Monday, the Reserve Bank of Australia will decide on interest rates while in the U.S., the Institute of Supply Management will release its Non-Manufacturing Purchasing Managers' Index.
In afternoon U.S. trading Friday, the euro was down against the greenback, with EUR/USD losing 0.88% and trading at 1.3196.
Earlier this week, U.S. Fed Chairman Ben Bernanke told lawmakers the U.S. Central Bank has no concrete plans to roll out a third round of quantitative easing, which are asset purchases from banks designed to lower interest rates and stimulate the economy.
Coupled with expectations that upcoming economic indicators in the U.S., including jobless numbers, will be stronger than expected going forward, the dollar rose.
Initial jobless claims for the past week came in at 351,000, lower than expected.
In one week, the Bureau of Labor Statistics is due to release its jobs report, one of the most-watched economic indicators in the U.S.
In Japan, officials have undertaken easing measures to weaken the euro, and the policies are paying off, which further bolstered the greenback.
Eurozone officials are meeting to discuss ways to firewall and extinguish the debt crisis there, while agreeing that austerity measures imposed on countries accepting bailouts should allow for economic growth as well.
The European Central Bank's announced EUR530 billion long-term refinance operation, which makes low-cost loans available to banks with the aim of easing credit conditions, was a welcome move and has largely been priced into stock and currency prices.
Meanwhile, the dollar was up against the pound, with Cable down 0.80% and trading at 1.5829.
The greenback was up 0.84% against the yen, with USD/JPY trading at 81.80, and up against the Swiss franc, with USD/CHF up 0.91% and trading at 0.9142.
The greenback was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.30% at 0.9884, AUD/USD down 0.66% at 1.0737 and NZD/USD down 1.27% at 0.8288.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.79% at 79.46.
On Monday, the Reserve Bank of Australia will decide on interest rates while in the U.S., the Institute of Supply Management will release its Non-Manufacturing Purchasing Managers' Index.