In currency markets, the dollar’s value against a basket of currencies last week moved away from its lowest levels in more than three years, and trading was uncertain due to the announcement of a new wave of tariffs that the US will levy from August 1.
The dollar index, which measures the value of the US against six major world currencies, rose 0.9 percent last week, to 97.87 points, moving away from its lowest levels in more than three years. The euro fell 0.8 percent to $1.1690.
The US currency also strengthened against the Japanese yen, by about 2 percent, so that the dollar’s price jumped to 147.40 yen.
The strengthening of the dollar is thanks to its status as a safer haven for capital in uncertain times, and uncertainty in the market is a consequence of the announcement of a new wave of tariffs on imports into the US.
