News

31 Oct 2025

The dollar index rose to its highest level in three months

The dollar index rose to a three-month high on Friday, as investors awaited comments from Federal Reserve officials for clues about the future of monetary policy.

The index, which measures the greenback against a basket of six other major currencies, climbed 0.1% to 99.6 at 10:30 AM Mecca time, after hitting a three-month high of 99.66.

The US currency held steady against the Japanese yen at 154.17 yen, following data showing Tokyo's core consumer price index rose 2.8% year-on-year in October.

The euro remained virtually unchanged at $1.1561 after the European Central Bank held interest rates steady for the third consecutive time, while the British pound edged down 0.1% to $1.314.

Market expectations for a US interest rate cut at the December meeting have declined, with the CME Fidwatch tool showing a 65.9% probability of a 25-basis-point reduction, compared to over 91% a week ago.

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