U.S. Dollar Rallies While Sterling Falls By Investing.com

© Reuters. The U.S. dollar rallied on Friday.

Investing.com – The U.S. dollar rallied on Friday, as investors gained back confidence in the economy and a four-day equity selloff ended.

The U.S. , which tracks the greenback against a basket of other currencies, was at 94.97 as of 10:37 AM ET (14:37 GMT).

The dollar had fallen this week as a selloff in equities and increasing bond yields put pressure on the greenback.

Cooling and solid bank quarterly results helped rally stocks and bolstered the dollar.

The pound was lower amid reports that UK officials wanted a longer transition period of leaving the European Union as a way to deal with the border issue with Northern Ireland. dipped 0.42% to 1.3177. The euro was pushed lower, with falling 0.39% to 1.1548.

The dollar slid slightly lower against the yen, with inching down 0.02% to 112.16. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

The Australian dollar was flat, with up 0.03% to 0.7126, while dipped 0.11% to 0.6510 and decreased 0.02% to 1.3060.

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