Dollar Winning Streak Extends Into Fifth Week as Yen Slumps [Yahoo! Finance Canada]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance Canada
(Bloomberg) -- A key gauge of the dollar strengthened for a fifth week as the timing for the Federal Reserve's first interest-rate cut remains cloudy. Most Read from Bloomberg The Bloomberg Dollar Spot Index edged 0.1% higher in the past five days, marking the longest stretch of weekly advances since February. The gauge ended the day at the highest level on a closing basis since early November. ADVERTISEMENT The dollar's resilience kept the pressure on peers this week, including the yen. The Japanese currency weakened for a 10th session in 11 on Friday, ending the session at 159.80 against the greenback — just shy of the closely watched 160 level. The British pound and Swiss franc also slumped. “I don't really see much to turn the tide for the dollar until the Fed cuts,” said Helen Given, a foreign-exchange trader at Monex Inc. “The yen and Swiss franc could stand to suffer the most through the next few months, until the Fed moves materially toward easing.” US benchmark r
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