US Dollar index; longest series of successive weekly gains in more than 17 years

The US dollar index ended its 9th successive weekly gain against a basket of 6 other major currencies on Friday as expectations for an early hike in US interest rates continued to bolster investor demand.

It was the longest series of successive weekly gains in more than 17 years.

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Expectations that the Federal Reserve is growing closer to raising interest rates continued to boost the dollar against the yen and the euro, with the Japanese and European central banks likely to stick to a looser monetary policy stance.

In the week ahead:

  • Investors will be focusing on the outcome of Wednesday’s Fed policy meeting. Fed Chair Yellen is to hold a press conference following the meeting. 
  • Market participants will also be closely watching the outcome of Thursday’s independence referendum in Scotland.

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