The dollar finished the week broadly lower on Friday after several sessions of range-bound trading as traders held off on taking large bets in the currency market ahead of a meeting of Federal Reserve policy makers next week.The ICE U.S. dollar index DXY, +0.00% a measure of the dollar’s strength against a basket of six rival currencies, has fallen 0.7% since the beginning of the week to 97.3110.
The buck USDJPY, -0.08% shed 0.2% of its value against the yen this week. It recently traded at ¥123.78. Meanwhile, the euro EURUSD, +0.0000% gained 1.4% against the dollar, trading at $1.0974 Friday afternoon in New York. The pound GBPUSD, -0.0258% slipped 0.6% this week to $1.5507.
Indonesia’s rupiah IDRUSD, -0.07432183% fell to 13,412 rupiah to the dollar Friday, its lowest level in almost two decades. South Korea’s won KRWUSD, -0.701501% fell almost 1.7% this week, and 0.7% on Friday, to 1,159.3, its weakest level in three years. Thailand’s baht THBUSD, -0.343741% weakened to its worst level since 2009.
Another notable development this week was the rebound in the New Zealand dollar. The kiwi—as it’s informally known—has been one of the worst-performing currencies against the dollar so far this year. But it looked set to finish the week higher against the dollar, despite an interest-rate cut by the Reserve Bank of New Zealand. The kiwi NZDUSD, -0.4540% rose 1% this week to 65.84 cents.
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