The dollar rose, recovering slightly from recent declines.
Investors are looking forward to the inauguration of US President-elect Donald Trump on Monday and the prospect of tariffs and pro-growth measures such as tax cuts. These are expected to be inflationary and should boost the dollar.
“For now, the dollar may remain in a holding pattern, maintaining its overvaluation against some tariff-sensitive currencies,” ING’s Francesco Pesole said in a note.
