dollar 's economy is
jumping to the highest level and the euro is falling due to tensions in Italy[/size] Twilight News
one hour ago
The US dollar rose to its highest level in five months against a basket of major currencies, supported by weakness in the euro as investors worried about political uncertainty in Italy.
The dollar index jumped for a fifth consecutive session, ending the week on gains of 1.2 percent and extending its gains since mid-February to 5 percent as investors bet more US interest rate increases will be needed to curb inflation.
The euro was the fifth consecutive weekly loss, the longest decline since 2015.
The European currency fell about seven cents in three weeks amid a sharp rise of the dollar. And recorded in late trading at today's session 1.1753 dollars, the lowest level in five months. Over the course of the week the euro fell about 1.2 percent against the greenback.
The dollar index, which measures the value of the greenback versus a basket of six major currencies, rose to 93.83, its highest level in five months.