AMID a short working week due to the Thanksgiving holiday, the US dollar closed higher by 0.31% to 96.712 following a stronger appetite for safe-haven assets after the rout in the stock market that saw Dow Jones and S&P 500 tumbling 2.2% and 3.2%, respectively, amid a nosedive in crude oil price.
However, the US dollar’s momentum weakened midweek following comments from the Fed’s speaker expressing concerns on a potential slowdown, which led to a higher divergence between the market and the Fed on interest rate expectations.