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(https://www.foxbusiness.com/markets/stocks-earnings-airlines-visa-oil-gold-europe-asia)
The dollar fell on Friday as stock gains contributed to a risky environment, but maintained its weekly gain for the sixth straight week as investors continued concerns over slowing global economic growth and US central bank policy. It will plunge the economy into recession.
And rising inflation and rising interest rates by the US central bank have heightened investor concerns that the economy will be in recession. Data this week is slow, but shows inflation is starting to ease.
The dollar index, which measures the performance of the US currency against a basket of competing currencies, fell 0.143% to 104.610 after reaching its highest level since December 2002 of 105.01. The sixth straight week of gains this year, the longest in a row. The dollar has risen more than 9% so far in 2022.
The euro rose 0.18% to $1.0398, its lowest level since January 3, 2017 at $1.0348.
The European single currency is on track to post a loss for the fifth week after being hit by Russia's invasion of Ukraine and concerns about a stronger dollar.
Despite widespread expectations that the European Central Bank will begin raising rates in July, rates are expected to rise more slowly than the US central bank.
The Japanese yen was down 0.76% against the dollar at 129.32 yen, and the pound was up 0.23% to trade at $1.2227 on Friday.
The yen, seen as a safe haven, began to strengthen against the dollar, marking its first weekly gain against the dollar after falling for the ninth straight week.
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