The U.S. dollar rose on Friday and is on track for its biggest weekly gain in tw...
LONDON - The U.S. dollar rose on Friday and is on track for its biggest weekly gain in two weeks as dissipating geopolitical tension prompted investors to buy riskier currencies, while the Japanese yen and the Swiss franc gave up all their recent gains.
With the United States and Iran backing away from further confrontation, traders will focus on monthly U.S. jobs data, which will follow a batch of strong economic figures. Against a basket of its rivals .DXY, the dollar gained 0.1% on Friday to 97.53, taking its cumulative gains this week to 0.7%, its biggest weekly rise since early November.
The dollar’s gains were particularly pronounced against the Japanese yen and the Swiss franc, against which it has rallied 1.7% and 1% respectively from this week’s lows.
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