The dollar lingered near a nine-month low against a basket of currencies on Friday, bogged down by growing expectations of more hawkish monetary policies in Europe and Canada and doubts about another U.S. interest rate increase this year.
The dollar index, which measures the greenback against a basket of six major currencies, last stood at 95.598. That was near a low of around 95.53 touched this week, its lowest level since early October 2016.
The euro eased 0.1 percent to 1.1430, backing away slightly from a peak of 1.1445 set this week, the common currency’s strongest level in almost 14 months. Sterling edged up 0.1 percent to 1.3016, having gained 2.3 percent so far this week. Against the yen, the dollar eased 0.1 percent on the day to 112.01 yen.
The rupee closed at 64.63 a dollar—a level last seen on 30 May, down 0.12% from its Wednesday’s close of 64.55. The rupee opened at 64.46 a dollar and touched a high and a low of 64.44 and 64.64, respectively. We expect the pair to trade in the range of 64.65-64.90.