The US dollar rose from its lowest level in a year

The US dollar rose from its lowest level in a year, as the main dollar index, which measures the performance of the US currency against 6 major currencies, increased by 0.57% to 101.53, after falling to 100.78, the lowest level since last April. The euro fell against the US dollar by 0.44% to $1.0999 after reaching $1.10755, the highest level since last April, and the dollar rose against the Japanese yen by 0.91% to 133.78 yen.

Federal Reserve Governor Christopher Waller said on Friday that despite a year of big rate hikes, US central bankers have not made much progress in getting inflation back to their 2% target and need to raise interest rates further. Atlanta Fed President Rafael Bostick said another quarter-percentage-point rate hike could allow the Fed to end its tightening cycle with some confidence that inflation will steadily return to its 2% target.