Currencies
Powell Pushes Dollar to Longest Weekly Win Streak in 15 Months
- Greenback rises for a sixth week as markets weigh Fed outlook
- Central bank will raise rates if needed, Chair Powell says
Jerome Powell walks the grounds at the Jackson Hole economic symposium in Moran, Wyoming, on Aug. 25.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The greenback climbed while US Treasuries slipped after Federal Reserve Chair Jerome Powell said policymakers are prepared to raise interest rates further if needed in the fight to reign in inflation.
The Bloomberg Dollar Spot Index strengthened on Friday, bringing its weekly advance to 0.2%. The US currency is poised to cap off a six-week streak of gains, the longest since May 2022. All Group of 10 currencies minus the Australian dollar weakened against the greenback this week as investors contemplate the Fed’s path.