Dollar rises to its highest level in two weeks

The US dollar rose against the major currencies today to its highest level in two weeks amid increasing expectations that the US Federal Reserve may reduce its asset purchases by the end of the year despite the rise in coronavirus cases. The main dollar index, which measures the performance of the US currency against 6 major currencies, rose to 92.664, after rising earlier in the session to 92.887, the highest level since August 27.

The single European currency fell against the dollar by 0.1% to 1.1801 dollars after the euro fell earlier in the session to 1.1770 dollars, the lowest level in more than two weeks, and the dollar rose against the Japanese yen by 0.1% to 110 yen.