New york: The US dollar held steady on Friday near its lowest level in three and a half years against the euro and the British pound, supported by investor expectations of a US interest rate cut. The euro stood at $1.1693 after reaching $1.1745 yesterday, the highest level since September 2021. The pound traded at $1.3733, approaching its October 2021 peak of $1.37701.
According to Bahrain News Agency, the dollar index, which measures the US currency against six major peers, fell to 97.378, near its lowest level since March 2022, marking a 2% decline for June. The index has declined more than 10% so far this year, boosting the appeal of other currencies. The Japanese yen remained steady at 144.73 to the dollar, while the Swiss franc stood at $0.8013.