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Dollar Trades Close to Its One-Month Low Against Majors

The U.S. dollar wavered close to its weakest level in a month against major peers on Friday. A stronger euro hurt the greenback as traders bet on sooner European interest rate hikes. Remarkably, an equity rally weakened the demand for safer assets.

The risk-sensitive New Zealand’s dollar declined amid a fall in consumer confidence. Meanwhile, the second-largest cryptocurrency, Ether, rose to a record high.

The U.S. dollar index, which tracks the currency versus six main rivals, including the euro, was slightly changed at 93.354. It stood close to Thursday’s low at 93.277 – a level unseen since September 27.

The euro was at $1.16855 after rising to $1.1692 overnight for the first time since September 28.

Against the safe-haven Japanese yen, the greenback was mostly unchanged at 113.50. It continues to ease back gradually from the nearly three-year peak of 114.695 hit last week.

The Federal Reserve should start taper stimulus from next month, with interest rate lift-off following next year.

The Australian dollar traded at $0.75425 after reaching the highest since July at $0.75555 in the prior session.

Its New Zealand counterpart dropped 0.3% to $0.71795 after a gauge of consumer confidence declined sharply in October.

An index of global shares surged to the cusp of a record peak this week. It was supported by an earnings-driven rally to consecutive record peaks on Wall Street.

Moreover, the British pound was almost flat at $.1.37925 as it continued to fluctuate close to a one-month peak hit last week.

The pound has been affected by speculation over whether the Bank of England (BoE) would continue with an interest rate hike at its meeting next week.

In cryptocurrencies, Ether gained an all-time high of $4,400. Meanwhile, bigger rival bitcoin also rose to trade about $62,000. However, Bitcoin was down from the all-time high $67,016.50 hit last week.

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