The U.S. Dollar Index rallied to the highest level since November 2020 during trading in New York.
The U.S. dollar on Friday briefly touched its highest levels in nine months as the spread of the coronavirus delta variant contributed to unease over the global economic growth outlook.
The U.S. Dollar Index DXY, -0.17% climbed to as high as 93.73 early Friday, the highest level since Nov. 2. The dollar’s morning rally was more about negative risk sentiment related to, among other things, the delta coronavirus variant and the slowdown in China, Vassili Serebriakov, FX strategist at UBS in New York told CNBC.The greenback’s move on Friday came as major U.S. stocks closed higher in a Nasdaq Composite-led COMP, +0.82% rally but still saw losses for the week, while 10-year TMUBMUSD10Y, 1.463% and 30-year TMUBMUSD30Y, 2.031% Treasury yields posted their biggest weekly declines since July.
In an interview with Fox Business Network on Friday, Federal Reserve Bank of Dallas President Robert Kaplan said the delta variant has caused him to have an open mind about the path of monetary policy. He called the delta variant “the big imponderable” in the outlook.
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