Economic news

Dollar set for weekly decline

The greenback slid versus a basket of major currencies on Friday and was on course for a weekly drop as traders focused on robust eurozone's economy.

Photo: Reuters

The dollar index was virtually unchanged at 88.701, trading above a three-year trough of 88.429 touched one week ago but still losing 0.4 percent for the week.

Versus its Japanese peer, the greenback rose slightly to 109.50.

The euro inched down 0.1 percent to $1.2499, but held near last week’s 3-year peak of $1.2538. It was set for a weekly rise of 0.6 percent.

Bitcoin extended its decline after touching a record peak of $19,666 in December on the Bitstamp exchange. It fell 3.4 percent at a more than two-month nadir of $8,690.


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