Dollar heading for biggest weekly gains bimonthly

The dollar rose today, Friday, on track to achieve its largest weekly gains in more than two months, as rising energy prices and ongoing disruptions in the shipping sector fueled inflation pressures.

The index is heading for an increase of more than one percent during the week to achieve its highest gains since early March 2026.

The rise of the dollar pushed the yen down to record 158 against its US counterpart, which kept traders cautious about further intervention from Tokyo. The yen reached 158.45 dollars at the start of Asian trading, heading to incur a loss exceeding one percent this week.

The euro fell 0.04% to 1.1662 dollars, also heading towards a weekly decline of more than one percent.

The dollar's rise gained momentum throughout the week, against the backdrop of evidence pointing to increasing inflation in the United States.

Data released yesterday, Thursday, showed that US retail sales continued to rise last April, while weekly initial jobless claims figures indicated a stable labor market.