Dollar Rises as Inflation Fears Return after OPEC Decision to Cut Production
Singapore, April 03 (QNA) – The US dollar was broadly higher as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production further.
The euro was down 0.44% to $1.0791, after touching a one-week low of $1.0788, while the Japanese yen weakened 0.46% to 133.41 per dollar. Sterling was $1.2277, down 0.45% on the day. The dollar rose 0.32% against the Swiss franc.
The dollar index , which measures the US currency against six peers, was 0.078% higher at 103.01, breaking past 103 for the first time in a week. (QNA)