(Bloomberg) -- The dollar headed for the biggest weekly gain in four months against the euro as strength in U.S. manufacturing and services prompted investors to reduce bets the Federal Reserve will cut interest rates in coming months.
The currency was also set for a second winning week versus the yen as the yield spread between U.S. and Japanese two-year bonds widened to a three-week high. The Institute for Supply Management's index of services grew the fastest in three months in April, while manufacturing was the best in almost a year.
Read more at Bloomberg Currencies News
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