Dollar set for five-week losing streak
The US dollar is heading towards its first weekly loss in five weeks, influenced by declining US Treasury yields and fluctuations in AI-related investments, which helped the euro recover from its lowest level in 17 months. The dollar stabilized against a basket of major currencies, with the dollar index falling by 0.14% over the week. It declined by 0.2% against the yen to reach 158.13 yen, and by 0.1% against the euro to arrive at $1.1210. Meanwhile, the British pound gained 0.3% over the week, supported by the unexpected 0.1% growth in the UK economy in August. Conversely, the Australian dollar dropped by 0.8% against the US dollar.
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